At the current pace of gold production Russia has enough unmined reserves of the precious metal for many decades to come, according to the head of the Ministry of Natural Resources, Alexander Kozlov.
“Russia is first in the world in terms of gold reserves (13%) while, in terms of production, third, after China and Australia. The country’s supply at the current level of output is about 40 years,” he told Izvestia newspaper.The minister pointed out that the Russian government is constantly replenishing its gold resource base, which has led to an increase in reserves of almost 6,000 tons since 2010.Kozlov added that, …
