Russia’s gold production rose about by 6.8% YoY, to 317.660 tons in 2017, Sergei Kashuba, chairman of the Union of Gold Producers of Russia, said on March 6.
Gold producers raised their output by 6.4%, to 254.216 tons in 2017, while by-product gold production gained 11.6%, to 16.459 tons, gold scrap production went up by 5.6%, to 36.98 tons, and gold concentrate production rose by 13.4%, to 10.005 tons.
“Russia has been the world’s third largest gold producer over the past years,” Kashuba said.
The union expects Russian gold producers to raise combined gold production by 3.2% YoY, to 328 tons in 2018, with the average annual price for gold amounting to about $1,200-1,400 per ounce, he said.
“We produced a record amount of gold in post-Soviet Russia in 2017 of 280.68 tons. This year production and by-product output of gold in Russia will grow to 285 tons, 8 more tons will be produced in concentrates, and about 35 tons more will be produced after processing of scrap and wastes,” he said. (Prime/Ukrainian metal)