Magadan Region mines 8% more gold, 13% more silver in Q1
MAGADAN. April 15 (Interfax) - Mining companies in Magadan Region increased gold production by 200 kg or 8% year-on-year to 2.7 tonnes in the first quarter of 2013, and boosted silver output by 29.4 tonnes or 13% to 255.1 tonnes, the head of the regional natural resources department, Vladimir Mitkin told Interfax.
Omolon Gold Mining Company produced 2 tonnes of gold and Magadan Silver mined 187.9 tonnes of the region's silver, Mitkin said.
The region expects to mine 20.1 tonnes of gold and 875 tonnes of silver in 2013.
Mitkin said Magadan Region was the fourth largest gold mining region in Russia in 2012. Magadan Region expects to double gold production to 45 tonnes in 2018 following the launch of mines at the Natalka and Pavlik hard rock gold deposits.
There were 102 auctions for resource rights in the region in 2012, more than 90 of which were for alluvial gold deposits.