Tag Archives: gold production

Gold fever. Actually, the Central Bank of Russia injects roubles into the domestic economy by buying up domestic gold production. This is a monetary operation conducted on the books of the central bank and it therefore does not affect the government's fiscal balance. Zero HedgeRussian Gold Reserves Hit Putin-Era High, Buying Frenzy Accelerates Tyler Durden

Russia will become world's second largest gold producer with the launch of a major mining and smelting facility in the Far East, said the press service of the Ministry for the Development of the Russian Far East Wednesday. After the facility was launched by Russia's gold producer Poluys to develop the Natalka gold deposit in the country's Magadan Region, the volume of ore processing will exceed 10 million tons per year, while the volume of gold production will be 13 tons per year, which...