GOLD NEWS

Russia's Magadan Region produces 41.5 tonnes of gold in 9M

Fri Nov 08 2024

Subsoil users in the Magadan Region extracted 41.5 tonnes of gold in January-September 2024, and there are plans to mine 52 tonnes for the year, the regional government said.

Surface placer gold production totaled 14.2 tonnes in the first nine months of 2024. The region's acting natural resources minister, Natalya Morozova, said that the region extracted more ore gold during the period than during the same period last year. Production data for the first nine months of 2023 have not been disclosed.

"The forecasts indicate that gold production should total 52 tonnes by the end of the year, which is within the planned indicators," the regional government said. Morozova also said that production of copper, lead, and zinc decreased in the first nine months.

"They are mined as a by-product of silver deposits. This is owing to the depletion of ore," Morozova said. The Magadan Region cut gold production 6.7% year-on-year to 47.968 tonnes in 2023.

Source: https://interfax.com/