05:29 GMT +323 September 2019
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    Gold mining

    Kamchatka Gold Miners Get Financial Boost From Gov’t

    © Sputnik / Mark Agnor
    Russia
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    The Russian government plans to invest two billion rubles into the gold-mining industry of the Kamchatka peninsula in the country’s Far East.

    Most of the money will be used to build a 170 km road leading up to the northern Ametistovoye goldmine, and a 50 km one to the Baranyevsky field in the central part of the peninsula. 

    Both are operated by the Kamchatka Gold Company, the region’s number one producer of the precious metal.

    Ametistovoye — the region’s biggest ore mining and processing enterprise, with an annual output of 4 metric tons of gold and 10 metric tons of silver — is scheduled to go on-stream in September. 

    The  Ametistovoye deposit’s known reserves total over 52 tons of metric gold and nearly 175 tons of metric silver.

    The launch of a similar facility at the Baranyevskoye gold field, with known reserves of over 30 metric tons, will make it possible to maintain the present annual output in central Kamchatka at around 2 metric tons.

    When fully operational, the two facilities will be turning out around 6 metric tons of gold and silver annually.

    Around 3.4 metric tons of gold were mined in Kamchatka in 2014.

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    Tags:
    investments, silver, gold mining, Kamchatka Gold Company, Kamchatka, Russia
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