Russia to become a leader in the world gold production by 2030 - Rosgeologiya

02 Sep 2016
Russia may become the world's leading gold producer by 2030 with an annual capacity of 400 tons, according to Boris Mikhailov, adviser of the general director of AO Rosgeologiya, speaking at the 35th International Geological Congress in Cape Town. “The analysis of the current situation and the available data suggest that in 2030 the total volume of gold production in Russia will reach 400 tons, and the resource potential transformed into reserves during this time can count on preserving the momentum of growth for the period, at least until 2050,” quoted Mikhailov press service of Rosgeologiya. According to him, the growth of production in the long term is provided by the existing and proven potential of the mineral resource base of gold in Russia, and have a special potential in the Magadan Oblast and the Republic of Sakha. “The explored reserves of the precious metal is in stringer-porphyry mineralization ores in black shale complexes (Natalkinskoye, Pavlik, Degdekanskoye, Drazhnoye and others) account for over 30% of total Russian. The calculations show that, on the basis of these deposits, the largest center of world gold production will be created. Its performance is not less than 100 tons per year. In addition, there is a high probability of discovery in these regions of new large deposits,” said Mikhailov. According to him, the priorities for the development are also the west and south of Eastern Siberia with a relatively developed infrastructure. Within these promising areas 45% of the reserves was explored with annual production of 30% of Russian gold. The precious metals production growth of in the near future is associated with the development of the Sukhoi Log deposit (total reserves of more than 2,700 tonnes at an average content of about 2.3 g/t), as well as the further development of gold mining at promising sites: Verninskoye, Nevskoye, Olimpiadninskoye, Blagodatnoye and others. According to Minister of Natural Resources and Environment Minister Sergei Donskoy, the agency expects to hold an auction for the Sukhoi Log gold deposit in November-December 2016.
Source: Uncommercial joint ownership "Trans-regional Association  of precious metals producers"