Magadan region plans to produce 30.5 tons of gold in 2017 to hit a record high of the past years, the regional government said in a statement on April 10.
“The Magadan region demonstrated a stable rise in lode gold output from 2009 through 2016. Production rose by 6.4 tons from 5.5 tons to 11.9 tons. In 2016, the output increased by additional 2.7 tons,” the statement reads.
In 2016, 27.9 tons of gold were produced in the region, including 16 tons of placer gold, the biggest volume since 1997.
In the future, the region intends to become Russia’s biggest gold producer.
“Polyus will launch Russia’s largest processing facility at the Natalka deposit. Mining and processing plant Pavlik will reach the project capacity. Polymetal will begin refining ore from the Olcha field, then the Yolochki, Nevenrekana and Nizhny Birkachan fields. We have all the conditions to obtain the first position in Russia in terms of gold output by 2023-2025,” the government said. (Prime/Ukrainian metal)