Magadan Region to produce record 30.5 tns of gold in 2017

MAGADAN, Apr 10 (PRIME) -- Russia’s norther Magadan Region plans to produce 30.5 tonnes of gold in 2017 to hit a record high of the past years, the regional government said in a statement on Monday.

“The Magadan region demonstrated a stable rise in lode gold output from 2009 through 2016. Production rose by 6.4 tonnes from 5.5 tonnes to 11.9 tonnes. In 2016, the output increased by additional 2.7 tonnes on the year,” the statement read.

In 2016, 27.9 tonnes of gold was produced in the region, including 16 tonnes 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 to refine ore from the Olcha field, then the Yolochki, Nevenrekana and Nizhny Birkachan fields… We have all changes to obtain the first position in Russia in terms of gold output by 2023-25,” the government said.

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