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Wednesday, 4th February 2009 (1495 views)

Russia's gold output rose by 13.3 per cent in 2008 compared with the previous year to 184.49 tonnes, exceeding industry forecasts.

The Russian Gold Industrialists' Union has reported that the country has witnessed an increase in gold output for the first time in more than five years, according to Reuters.

Valery Braiko, head of the union, revealed that mined gold output increased last year by 13.1 per cent to 163.89 tonnes and mine output for 2009 is expected to reach a similar level.

Mr Braiko stated: "Our preliminary estimate is the same level, with the possible addition of one or two tonnes."

The highest levels of gold output in Russia during 2008 were recorded in the Krasnoyarsk region in eastern Siberia, while several major miners in the country raised production over the year, including Kinross Gold, Peter Hambro Mining and Polymetal.

Ghana's Chamber of Mines has announced that the country witnessed a four per cent increase in its gold output to 2.6 million ounces in 2008.

 

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