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Russia Discloses Gold Output of 480–500 Tons, 50% Above World Gold Council Forecast

2026-06-03 11:09:38

According to Russia's Natural Resources Ministry, the country disclosed on June 3 its official gold production figures for the first time in several years. Minister Alexander Kozlov told TASS that Russia's annual mining output should reach 480–500 tons this year, compared to approximately 480 tons last year. The disclosed figures significantly exceed independent market estimates; according to the World Gold Council, Russia produced roughly 330 tons in 2024, making the ministry's projection approximately 50% higher.

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