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The union also said that production of silver in Russia in Q1 decreased by 3.6 percent compared to the same period of 2019, totaling to 338.92 tons. Russia has been steadily piling up gold in its national reserves, which hit $566 billion as of May 1. The bullion holdings alone are worth over $126 billion, according to the countrys central bank.
To date plants capacity equals about 8 tonnes of gold, new phase will allow annual production to reach 12 tonnes of gold. Once the Pavlik deposits second phase is commissioned, annual output of Kolyma will exceed 40 tonnes per annum and comes close to the Krasnoyarsk regions output, the region is the industry leader in Russia.
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Russia & China to build worlds largest petrochemical plant. An agreement worth more than $13 billion has been signed between China National Chemical Engineering Group (CNCEC) and Russias RusGasDobycha to build a natural gas processing and chemical plant.
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