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Russia’s gold output goes up by 5% to exceed 177,094 kg in January-October – union

November 30, 2011, 20:30 UTC+3
Russia’s gold mining and production went up by 5.1 percent in the first ten months of the year
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MOSCOW, November 30 (Itar-Tass) —— Russia’s gold mining and production went up by 5.1 percent in the first ten months of the year, as compared to the same period of 2010, and reached 177,094.3 kilograms (5.694 million ounces), an official at the Russian Gold Industrialists’ Union said.

In January-October 2010, Russia’s gold mining and output amounted to 168,448.9 kilograms, the official said.

In the first ten months of the current year, the country’s gold mining increased by 6.9 percent to 157,376.6 kilograms, the official said, adding that Russia’s gold by-production and recycling went down by 7.6 percent to 12,095.8 kilograms and by 6.8 percent to 7,621.9 kilograms accordingly.

In 2011, total gold output, including gold mining, by-production and recycling from scraps and mining waste, is projected to grow by 4.5 percent, as compared to the previous year, and make up about 211.4 tonnes, the official said.

On Friday, November 25, Director of the Federal Agency for Mineral Resources Anatoly Ledovskikh told reporters that Russian gold mining is expected to be at 215 tonnes in 2011.

In the recent years, the hike of the appraised gold resources has almost tenfold exceeded the country’s gold output, he said.

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