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Russian gold minning sector
Russian Federation is a mining giant, accounting for just under 15% of total global mineral production and placing within the top 10 world producers of mineral resources.Since 1995, the Russian gold mining industry has almost doubled its volume of extraction and is third in the list of global gold producers after China and Australia. In the last 10 years, according to the Russian Union of Gold Producers, Russia mined 2,189 tonnes of gold and plans to increase the annual production to 400 tonnes by 2030.
Russia have a number of major gold mining regions that are among the most prospective in the world. The Krasnoyarsk Territory in Central Russia is the largest and is home to three of Polyus Gold’s (Russia’s foremost gold producer) major operations - "Olimpiada", "Natalka" and "Blagodatnoye". The Chukotka region in far-east Russia contains Kinross Gold’s major Russian assets, the Dvoinoye/Kupol operations. Commercial production began at the Dvoinoye underground mine in 2013 and it has ramped up to produce 734 koz of gold in 2016. The third most prominent mining area is the Amur region which has the Petropavlovsk mining company as the dominant player, operating the Pioneer mine and developing three other deposits – Albyn, Malomir and Pokrovskiy. The Magadan region is one of that fastest growing gold hubs in Russia with operations of Polymetal’s Dukat and Omolon mining companies. Irkutsk is another region of significant gold mining growth, containing Polyus Gold’s Verninskoe site and GV Gold’s flagship project. Other major players in the Russian gold space are Nordgold, Sovrudnik Ltd, Highland Gold Mining Ltd, and Susmanzoloto.
PJSC Polyus (Polyus Gold) is the largest gold producer in Russia. Here are Polyus's TOP 5 major mining operations:
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Olimpiada
" - Location: Krasnoyarsk region, Eastern Siberia; Mining type: Conventional shovel-and-truck open-pit operation; Proven and Probable Reserves (ounces) - 28 million "Natalka
" - Location: Magadan region, Far East; Mining type: Conventional shovel-and-truck open-pit operation; Proven and Probable Reserves (ounces) - 16 million"
Blagodatnoye
" - Location: Krasnoyarsk region, Eastern Siberia; Mining type: Conventional shovel-and-truck open pit operation; Proven and Probable Reserves (ounces) - 9.6 million"
Verninskoye
" - Location: Irkutsk region, Eastern Siberia; Mining type: Conventional shovel-and-truck open-pit operation; Proven and Probable Reserves (ounces) - 5.1 million"