Gold production to rise from 226 tonnes in 2012

MOSCOW: Russia's gold production is likely to increase by 5 percent this year from 226 tonnes in 2012, Sergei Kashuba, the head of the Russian Gold Industrialists' Union, said on Tuesday.

Last year, gold output in Russia, the world's No. 4 producer, rose 7 percent from 222 tonnes in 2011, Kashuba told reporters on the sidelines of an industry conference.

"Production may increase by about 5 percent (in 2013)," he said, adding it would be driven by the development of Polyus Gold's projects.

Polyus, Russia's largest gold miner, said last month it may increase its output of the metal by up to 7 percent this year thanks to further improvement in recovery rates and higher processing volumes.