Positive dynamics of gold production takes place in the mining industry of the Magadan region

Ministry of Natural Resources and Environment of the Magadan region has reported on its work in 2014.

According to its head Vladimir Mitkin, despite fluctuations in world prices for precious metals, miners worked well and kept the tendency of growth of gold and silver production. Good performances were reached due to significant upgrade of material and technical base of enterprises in the periods of high gold prices.

In turn, Governor Vladimir Baked stressed that the mining industry was leading in the region and rapid economic development of the region and successful implementation of the planned social programs depended on it. "Mineral and resources oriented economy of the Magadan region won’t change in the coming decades and will remain an important factor in determining its further development," - said the region’s head.

He added that in recent years the positive dynamics of the gold mining took place in the mining industry of the Magadan region. In the period from 2009 to 2014, the gold production increased by 8.4 tons from 15.7 tons to 24.1 tons. In 2014, it increased by 2.8 tons as compared with 2013. By results of 2014, the share of the mining sector in the structure of the industrial production increased as compared with 2013 and was 78.7%.