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Mining.com/Valentina Ruiz Leotaud/8-30-2020
“In the market analyst’s view, Russian gold production will lead the rise with gold output jumping from 11.3moz in 2020 to 15.5moz in 2029. This figure represents an average annual growth of 3.7% during 2020-2029 and would see Russia overtake China as the largest gold miner, accounting for 11.6% of global output by 2029, compared with 10.6% in 2020.”
USAGOLD note: But will it be enough to keep up with demand – particularly under current market circumstances? Consider, too, that both Russia and China – soon to be the world’s two largest producers according to Fitch Solutions – retain the bulk of their production as part of their national reserves.