Monday, 21st February 2005 (3198 views)

The Magadan region in Russia is aiming to increase gold production by three per cent to 24.85 tonnes in 2005.

The area is known for its gold resources and already produced 24.091 tonnes of gold last year, according to adjusted figures.

It is thought this year the region should produce 10.86 tonnes of lode gold and 13.99 tonnes of placer gold, Alexander Nevolin, head of the region's subsurface resources department, told Interfax.

Figures show that Magadan shipped 22.667 tonnes of gold to Russian refineries in 2004.

 

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