On September 2, according to TASS news agency, Mr. Aslambek Germakhanov, Deputy Director of the Russian Federal Service for Mineral Resources (Rosnedra), said that Russia's gold reserves are sufficient to help the country maintain its world leading position in gold mining for about 30 years.
Speaking at the Eastern Economic Forum (EEF) in Vladivostok, Mr. Germakhanov said that Russia currently has 17,500 tons of high-content gold reserves, ranking third in the world in reserves and second in gold production.
With the current exploitation rate, the above amount of gold can guarantee Russia's position for about 30 years. However, the country's future supply may also be expanded from resources not yet included in current reserves.
In addition, according to Mr. Germakhanov, Russia currently has about 18,000 tons of gold belonging to the potential resource group. If explored and determined to be eligible for exploitation reserves, this source could add about 8,000-10,000 tons of gold, equivalent to an additional 15 years of production according to cautious calculations.
In addition to the above resources, Russia can also recover gold from mining sites and artificial mines. Rosnedra officials estimate that these sources are likely to add about 5,000 tons of gold reserves in the future.
Thus, in addition to the existing reserves of 17,500 tons, Russia is expecting to exploit more from potential resources and remaining gold in mining activities. This could help the country maintain its gold supply for a longer time.
The Eastern Economic Forum (EEF) takes place from September 1-4 in Vladivostok, with the theme "Extrême East - Development for the benefit of the people". The forum focuses on issues of economic development, investment, infrastructure and international cooperation in the Russian Far East.
