The increase in gold output will positively influence the economy of the Magadan region, the Council of the Federation member Anatoly Shirokov believes.
In 2016 the region was one of the 3 largest gold producers in Russia. Last year Magadan region obtained 32.95 tons of gold, up by 18.2% YoY.
The gold-extracting industry provides a lot of jobs and stable salaries, as well as functioning of other industries, connected with it: power, road, transport, trade, etc.
“At present alluvial sites yield the most gold. But in the near term the growth of gold output at ore sites is also expected. According to the regional government, in 2021 Magadan will yield 42 tons of gold, and in 2023 – 50 tons”, Shirokov noted. (Ukrainian metal)