The mining companies of Magadan region in 2005 produced 22.975 tons of gold that is more than the previous year results by 308.1 kg (22.667 tons). Silver production amounted to 596.022 tons- 6.8% more than in 2004 (558.044 tons). According to PRIME-TASS, Magadan region is the leader in Russian gold mining – this year over 25 tons of gold are expected there.

The Union of Gold Manufacturers forecast that in 2005 Russia’s gold production will reduce down to 175 tons from 180.5 tons in 2004.