The 2nd Largest Gold Reserves In The World : Gold Mining In Russia

Kraznokamensk russian gold Mine

One of the richest countries on the planet is Mother Russia, it has a massive endowment of, natural gas, oil, diamonds, and of, course gold.

In addition, it is a major player in coal, timber, agricultural cereals and uranium.

Over 300, years long, the Russian gold mining industry has a history. The gold mining renaissance in Russia begins with the discovery of a quartz outcrop in Ekaterinburg.

About 70% of gold Russia has very specific raw material sources; it has been mined from sedimentary deposits, 7% at compound deposits and 23% from hard rock ones.

Gold is now, simultaneously extracted from composite deposits worldwide and hard rock.

Gold mining in Russia was a completely state dominated industry until recently. The process of mergers, privatization and redistribution of mining companies began during the 1990s.

Russia has a minority of major gold producing regions in the east; Irkutsk, Krasnoyarsk, Magadan, Chelyabinsk and Amur.

One of the most prolific gold mining regions in the world is Krasnoyarsk.

Russia has the second largest gold reserves in the world at 12,500 tonnes over 400 million ounces according to the Russian Ministry of Natural Resources.