Chukotka cuts gold output a third in Jan
ANADYR. Feb 9 (Interfax) - The Chukotka autonomous region cut gold output 33.3% year-on-year to 1.784 tonnes in January, the region's Information Policy Department said.
Silver production fell 1.6% to 14.l76 tonnes.
Kinross Gold produced 1.06 tonnes of gold and 14.75 tonnes of silver at its Kupol mine in Chukotka. The Karalveem mine produced another 129.3 kg of gold and 13.5 kg of silver.
The region produced 19.61 tonnes of gold last year, 17.9 tonnes of it hardrock gold and 1.7 tonnes alluvial.
Gold production has fallen at the Kupol mine due to an expected drop in ore gradings.
The prospects for the region's gold production are linked to the development of new mines. Chukotka plans to commission the Maiskoye gold mine, licensed to Polymetal , in Q4 2012. This should eventually produce 6-10 tonnes of gold per year.
The region also plans to develop the Dvoinoye field (Chukotka Mining and Geological Company, with processing expected to occur at Kupol) and Kekura (CJSC Base Metals).