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Russia Announces Largest Gold Discovery Since 1991 in Far East
Russia Announces Largest Gold Discovery Since 1991 in Far East
Sputnik International
The Russian Far East’s region of Chukotka is, in particular, known for its bunch of gold mines, with the past several years seeing sustained growth in the precious metal’s annual output in the area.
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More than 100 tons of gold have been discovered at the Sovinoye gold mine in Russia's easternmost federal entity of Chukotka.It is the largest gold discovery in the country since the collapse of the Soviet Union in 1991.Mining division of the Russian state corporation Rosatom, which made the announcement, pointed out in a statement that drilling works at the Sovinoye mine were carried out “year-round in conditions of continuous permafrost.”The Sovinoye mine’s annual output is expected to start at three tons from 2029, the company said.The mine, which is located near the Chuckchee Sea, was founded in the 1970s. It was followed by comprehensive geological exploration to identify high-grade gold veins in the 1980s.Russian media earlier cited a report by the Moscow-based Central Research Exploration Institute of Non-Ferrous and Precious Metals as saying that gold production in Russia could reach its peak in 2030.
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discovery of more than 100 tons of gold in russia's chukotka,
discovery of more than 100 tons of gold in russia's chukotka,
Russia Announces Largest Gold Discovery Since 1991 in Far East
15:18 GMT 13.01.2024 (Updated: 16:36 GMT 13.01.2024) The Russian Far East region of Chukotka is known for its gold mines, with sustained growth seen in the precious metal’s annual output in the area of late.
More than 100 tons of gold have been discovered at
the Sovinoye gold mine in Russia's easternmost
federal entity of Chukotka.
It is the largest gold discovery in the country since the collapse of the Soviet Union in 1991.
Mining division of the Russian state corporation Rosatom, which made the announcement, pointed out in a statement that drilling works at the Sovinoye mine were carried out “year-round in conditions of continuous permafrost.”
"Over the past three years, 123 wells with a total length of more than 32 km have been drilled. All prospecting, topographic-geodetic, geological-geochemical and geophysical work has been completed," according to the statement.
The Sovinoye mine’s annual output is expected to start at three tons from 2029, the company said.
2 November 2023, 11:18 GMT
The mine, which is located near the Chuckchee Sea, was founded in the 1970s. It was followed by comprehensive geological exploration to identify high-grade gold veins in the 1980s.
Russian media earlier cited a report by the Moscow-based Central Research Exploration Institute of Non-Ferrous and Precious Metals as saying that
gold production in Russia could reach its peak in 2030.
