Russian gold reserves will be sufficient for next 40 years

Sukhoi Log field. Photo: Polyus

Russian gold reserves will be sufficient to ensure stable production for the next 40 years, according to recent statements, made by head of the Russian Ministry of Natural Resources Alexander Kozlov.

 

According to him, since 2010 the increase in reserves has amounted to almost 6,000 tonnes, which became a good result for the Russian gold mining sector. In the last 10 years, three large gold fields have been launched: Natalkinskoye and Pavlik in the Magadan region, the Gross field in the Republic of Sakha (Yakutia), as well as Verninskoye field in the Irkutsk region. Moreover a number of fields with small and medium reserves were launched in the Khabarovsk Territory and the Magadan Region.

 

 

The unique Sukhoi Log field in the Irkutsk Region and a number of large fields in the Far East are being prepared for development. In general, gold production in Russia in 2020 amounted to 445 tons, which is by 1.7 times more than in 2010

 

As Kozlov has also added Russia currently ranks first in the world in terms of gold reserves (13%), being the world’s third largest producer after China and Australia.

 

By: Eugen Gerden