Russian Gold Production To Fall: Gold Union Head

Russia could reduce gold production 13 per cent by 2010, compared with this year's anticipated total to 130.7 tonnes. This information was presented by Valery Braiko, the head of the Russian Gold Prospectors' Union, said at the Union's congress.

According to him, gold mine production in 2005 would fall by 10 tonnes to 150 tonnes due to a drop in mine production by all major producers except Polymetal.

Overall output, including mined gold, by product mine production and gold recovered from scrap, would be 170 tonnes, compared with 180.5 tonnes in 2004, he said.