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Russia May Become World Leader in Gold Production by 2030 - Geological Company

© Sputnik / Vitaliy Bezrukih / Go to the photo bankGold bars
Gold bars - Sputnik International
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Russia may become a world leader in gold production with annual production capacity at 400 metric tons, a representative of Rosgeo, a Russian-state-owned company for geological exploration, said Friday.

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MOSCOW (Sputnik) — He also added that the output growth taken in a long-term perspective could be met by the potential of the mineral resource base in Russia, with such territories as the Magadan Region and Sakha Republic particularly rich in gold.

"The analysis of the current situation and the available data make it possible to suppose that the total amount of gold production in Russia will reach 400 tonnes, and increased gold reserves may allow to preserve the growth rates until 2050," Boris Mikhailov, an adviser to the general director of Rosgeo, was quoted as saying by the company's press service.

Rosgeo is a Russian company that carries out the full range of services related to geological exploration, from regional studies to parametric drilling and monitoring of subsurface conditions.

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