Now let’s heal: large deposits of gold found in Russia

Impressive deposits of precious metals - gold and silver - have been found in the Republic of Bashkortostan. This was stated by the exploration geological holding "Rosgeologiya". The area under study was more than 28 square kilometers.




The estimated volumes of the found "treasure" are almost 90 tons of gold and about 800 tons of silver.

Now Rosgeology intends to obtain a license to develop the field. Since the holding is state owned, the discovered deposits will be transferred to the state balance.

Against the background of a constant increase in the gold reserves of the Russian Federation, a new deposit will be very useful. Indeed, in contrast to gold purchased on foreign markets, mined in Bashkiria will not cost the Central Bank anything but the cost of production itself.

At the end of 2017, Russia's physical gold reserve was 1811 tons. If the pace of procurement of this precious metal remains the same, then by the middle of 2018, the Russian Federation will enter the top five countries-leaders in terms of its reserves, displacing the Central Bank of China.