Gold mining companies of Magadan region last year produced 17.7441 tons of gold – it is by 5230.1 kg less than in 2005 (22.9742 tons). Silver production amounted to 518.8856 tons – minus 8.8% as compared with 2005 figures (568.857 tons). This information was provided by PRIME-TASS with references to the Department of Natural Resources of the region.

Experts express an opinion that the reduction of gold production is associated with mining volumes decrease – mainly at Kubaka deposit exploited by Omolonskaya Gold Ore Company (key shareholder – Canadian Kinross Gold) – and with exhausted condition of alluvial deposits.

According to the official information provided by the Ministry of Finance of Russia, in 2006 gold production in the country amounted to 165.6 tons – by 1.5% less than in 2005. This figure includes 148.8 tons of mined gold, 19.4 tons of incidental gold and 4.9 tons of secondary gold.

In 2005, as it has been informed by the Ministry of Finance of Russia 168.1 tons of gold were produced including 152.1 tons of mined gold, 11.1 tons of incidental gold and 4.9 tons of secondary gold.