Thursday, 28th August 2008 (410 views)

Gold output in Russia has increased 9.5 per cent between January and July this year, according to figures from the Russian Gold Industrialists Union.

Reuters said the country reported 84.13 tonnes of gold was found during the timeframe, compared to 76.86 discovered last year.

The union said last month that it believed gold output would rise by the end of 2008 to 176 tonnes, an increase of eight per cent.

Of the 84.13 tonnes, 73.29 tonnes came from gold mines. This is a rise of 9.9 per cent from 66.69 tonnes mined last year.

Gold from scrap accounted for 3.89 tonnes and gold as a by-product from other metals equated to 7.24 tonnes.

According to Reuters, most of gold in Russia is mined in the east and far east of the country. For the first quarter of 2008, Kranoyarsk - in eastern Siberia - was the largest gold-producing area of the country.

 

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