“With its estimated 331 tons in 2020, Russia ranked second in terms of global gold output accounting for 9% of the world’s total, Institute of Geotechnologies wrote in a presentation seen by S&P Global Platts May 6.
Between 2010 and 2019, Russia’s production advanced on average 5.5% per year, while the world’s total rose 3% on an annual basis, S&P Global pointed out.
In the short term, the Institute of Geotechnologies projects Russian gold production to continue to see annual growth of 0%-2%.