Gold producers in Russia to benefit from weak ruble on new projects

Low gold prices have put an end to the era of the active expansion of the gold mining companies, but the Russian gold producers actively finish the plants they started building and planned new enterprises, getting record profits thanks to weakening of the Russian currency.
 
Gold prices, which grew continuously for 11 years, fell in 2013 and are in no hurry to recover, as investors have grown cool towards the non interest-bearing metal in anticipation of the increase in the key interest rate of the Federal Reserve.
 
After the collapse of the price,gold mining companies worldwide everywhere froze the construction of new and the expansion of old facilities, which could lead to a reduction in global production of the metal in 2016.
 
But in Russia, the production doesn’t fall because of the collapse of the national currency, which traditionally plays into the hands of exporters, including gold mining companies.