19 Jun 2019 17:39

Russia could mine 4% more gold in 2019 for total of 340 tonnes - Union

MOSCOW. June 19 (Interfax) - Russia could raise gold production 4% in 2019 to 340 tonnes, the Russian Union of Gold Producers forecast in a report.

Increased mined gold production from new projects launched in Russia in 2018-2019 amounted to 11-14 tonnes, the Union estimates.

Production of gold concentrates and other byproduct gold may rise chiefly due to increased output at Nornickel's Bystrinsky GOK. Commercial concentrate production growth (excluding warehouse inventory) in 2019 could come to around 5 tonnes of gold compared with the previous year, the Union said.

In 2019, 306 tonnes of gold will be produced from mineral feedstock, including 270 tonnes of mined gold, 16 tonnes of byproduct gold and 20 tonnes of gold in concentrates, Union head Sergei Kashuba was quoted as saying in the statement. A further 34 tonnes will come from processing of secondary feedstock.

According to an estimate by the Union, gold production in Russia in Q1 2019 was up 13% year-on-year to 61.464 tonnes.