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Increment of Russian gold reserves surpasses output in 2023, exceeds 700 tons — ministry

"In 2023, of 168 new fields of solid minerals that entered on the national register, 142 were gold deposits," the ministry said

MOSCOW, March 26. /TASS/. Increment of Russia’s gold reserves through exploration activities totaled over 700 tons in 2023, having exceeded preliminary production results of 421.8 tons, a source in the Ministry of Natural Resources and Environment told TASS.

Increment of gold reserves was higher than output from 2021 to 2023, the ministry noted. In particular, in 2021 increment amounted to 574 tons, while production equaled 438.37 tons, in 2022 increment reached 1,380 tons, while output was 421.7 tons, whereas in 2023 increment of gold reserves exceeded 700 tons, while production, according to preliminary figures, amounted to 421.8 tons.

"In 2023, of 168 new fields of solid minerals that entered on the national register, 142 were gold deposits," the ministry said.

Russia’s Minister of Natural Resources and Environment Alexander Kozlov said earlier that increment of Russia’s gold reserves had reached almost 4,000 tons since 2020, with production exceeding 1,700 tons in the same period.