8 Oct 2009 13:34

Russia could boost gold output 11% to 205 tonnes in 2009

MOSCOW. Oct 8 (Interfax) - Russia could produce 205 tonnes of gold this year, 11% more than in 2008, the Gold Producers Union said, quoting a figure that includes mine output, byproduct gold and recoveries from scrap.

The Union earlier forecast gold production would rise 3% to 190 tonnes.

Gold mine production is now likely to rise 10.9% to 181.8 tonnes. The previous forecast was 169.5 tonnes.

The Union said the production growth for hard rock gold would be driven by Kinross Gold's Kupol mine and Lev Leviev's Karalveem mine in Chukotka; and by Peter Hambro Mining's Pokrovsky Rudnik mine and High River Gold's Berezitivoye mine in the Amur region. Placer gold production will also rise, driven by operations in the Magadan and Irkutsk regions.

Prominent gold industry experts have forecast Russia will produce 190-200 tonnes of gold in 2009.