The chief executive of Russia’s largest gold producer Polyus, Pavel Grachev, has warned that the country’s gold deposits are being depleted, with mining firms expected to exhaust their resource portfolios in the next two decades.
According to Grachev, Russia’s gold deposits currently total about 8,000 tons, while annual production amounts to 330 tons.“If the trend is not reversed, the industry may face a structural shortage of raw materials during the next decade or two,” the chief executive said, stressing that Polyus has 37 years of gold left in its deposits.He highlighted that the nation’s perpetual gold resources, …
