Gold production in Russia to increase by 1% to 297 tons in 2016

​The total gold production in Russia in 2016 will grow by 1% against 2015 to 297 tons, the head of the Union of Gold Entrepreneurs of Russia, S. Kashuba, said.

We expect the slowdown of gold production growth in 2016. There will not be either a serious growth or large new investment in the sector. By our assessment in 2016 the extraction will grow by about 2% but with saving the production of accompanying and secondary gold at the level of 2015 – the total production will show a 1% growth – to 297 tons, Kashuba said.

According to him, in 2017 the growth of the total gold production at 1% to 300 tons is expected. The extraction growth will take place mainly by means of the already launched and prepared for launch mega projects at such deposits as Natalka, Kyuchus, Nezhdaninskoe. We expect the Government to finally come into the sector with private companies  to Sukhoi Log, the head of the head of the Union of Gold Entrepreneurs said.