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Russia Steps Up Gold Mining Production

Global Gold
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EDITOR NOTE: In 2014, the US levied debilitating sanctions on Russia which should have been effective considering that the dollar was, and still is, the world’s reserve currency. Apparently, it was a “paper” tiger (emphasis on “paper”) as Russia found an easy workaround by way of “real” money--that is, gold. Russia is now ramping up its gold production, commissioning new mining and processing plants. With the US dollar in decline, and Americans largely unaware of the difference between money and money substitutes (i.e. the dollar), Russia is preparing for a world in which the dollar is no longer king, as it is increasingly proving to be the emperor with no clothes. As we’ve said many times before, there will come a time, sooner rather than later, wherein gold will have its reckoning. But it will benefit only those who hold it. If only to preserve your future purchasing power, we recommend seriously considering exposure to the yellow metal. Buying non-CUSIP gold is an investment in real money, not speculation in a questionable asset, as the dollar is quickly becoming day by day. 

Moscow (Jan 25)  Gold mining companies of Russia’s Far Eastern Kamchatka Peninsula produced more than 6.8 tons of the yellow metal last year, which is an almost eight percent increase year-on-year.

According to Elena Kasyanyuk, deputy head of the subsoil use and mining department of the regional ministry of natural resources and ecology, the growth was due to the production performance of gold ore. She told TASS that the extraction of coal and minerals has also increased slightly.

Kamchatka authorities plan to increase gold output to 10 tons by 2022 by commissioning new mining and processing plants. Among those are the Kumroch gold deposit with a capacity of up to 500,000 tons of ore per year and the mining plant at the Ozernovsky gold deposit (600,000 tons of ore per year).

Originally posted Gold-Eagle

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