Russia to double gold extraction to become second-biggest producer

Section:

From Russia Today, Moscow
Sunday, June 3, 2018

Major Russian gold mining companies are planning to almost double production. The increase could make Russia the world's second largest producer of the precious metal.

The country is currently third in the global rating of gold miners after Australia and China. However, that could change in less than a decade, according to Mikhail Leskov, deputy CEO at the Moscow-based Institute of Geotechnology, as quoted by Vedomosti.

... Dispatch continues below ...



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In 2017 Russia extracted 8.8 million ounces, accounting for 8.3 percent of total global production, according to data by the UK consultancy Metals Focus, as quoted by the media.

The newly discovered gold deposits will reportedly allow miners to increase extraction by half in seven years. By 2030 extraction is expected to grow by nearly eight million ounces. ...

... For the remainder of the report:

https://www.rt.com/business/428571-russia-gold-production-double/

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