Russia& 39;s gold production was forecast at 15.5 million ounces in 2029 increasing by more than four million ounces compared to 2020.
In the market analyst’s view Russian gold production will lead the rise with gold output jumping from 11.3moz in 2020 to 15.5moz in 2029. This figure represents an average annual growth of 3.7%
Among selected Russian gold mining companies Polyus had the largest production volume in the country measuring at 2.4 thousand ounces in 2018.
According to Fitch Russia’s gold production will rise from 11.3-million ounces in 2020 to 15.5-million ounces in 2029 which would mean a rise of 3.7 percent on an annual basis during that period. That means Russia would account for 11.6 percent of global gold output as against today’s 10.6 percent.
Gold output in Russia continued to grow surging by 9.6 percent from January to February compared with the same period of last year said the country’s Ministry of Finance. The volume of bullion production amounted to 39.71 tons against the 36.3 tons in 2019.