Russia’s Magadan Region gold output rises 16% to 9 tns in Jan–Jun

MAGADAN, Jul 12 (PRIME) – The combined gold production of companies of Russia’s Magadan Region increased by 15.53% on the year to 9.014 tonnes in January–June, the region’s government said in a statement Tuesday.

Silver output fell 24.19% on the year to 422.649 tonnes in the period.

In 2015, the Magadan Region companies produced 24.506 tonnes of gold, a 1.5% increase on the year. Silver production in the region increased 17.3% to 1,127.5 tonnes in the year. The government expects gold production to increase 10% to 27 tonnes in 2016, but silver production is expected to fall to about 1,000 tonnes.

Production at the Pavlik deposit launched in 2015 is forecasted to reach 4 tonnes of gold this year, and to further rise to the target capacity of 6 tonnes per year.

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