Chukotka cuts gold output 5.9% in Q1
MOSCOW. April 12 (Interfax) - Russia's remote Chukotka region reduced gold production 5.9% year-on-year in Q1 2011 but boosted silver production 16%.
The region's Information Policy Department said 5.581 tonnes of gold and 65.7 tonnes of silver were mined in Q1, 2011, compared with 5.93 tonnes and 56.7 tonnes a year previously.
Kinross Gold's Kupol mine produced 4.9 tonnes in Q1 2011, down 222.5 kg from the same period of last year, however it produced 63.2 tonnes of silver, or 8.6 tonnes more.
Lev Leviev's Karalveem mine in Chukotka produced 310.5 kg of gold in Q1 this year, and the Chukotka mining cooperative produced 327.3 kg at the Valunistoye field.
The region only produced hardrock gold in Q1 2011 - placer mining is impossible in the winter months.
Kupol was largely responsible for a decline in gold production in Chukotka last year - Kinross said back in 2009 that it expected production at Kupol to fall due to lower ore grades. The region almost tripled gold production in the early part of 2009 but production then started to slow and decline. Chukotka was Russia's second biggest gold producing region in 2009 and 2010 - gold output fell 20% to 24.4 tonnes in 2010. The region only produced a small amount of gold until the Kupol mine went into production.
The region plans to commission the Maiskoye gold mine, licensed to Polymetal , as well as Dvoinoye (Chukotka Mining and Geology Company) and Kekura (CJSC Base metals) in the next two years.