Russia ramps up gold production, adding to country’s huge bullion reserves

MINEX Forum | May 26, 2020
img0 Gold output in Russia continues to grow, increasing by 9.26 percent in 2019 year-on-year, the country’s Ministry of Finance said on Monday. The volume of bullion production reached 343,54 tons compared with 314,42 tons in 2018. Production for the period included over 286 tons of mined gold, the ministry reported. Accompanying mining surged 23.8 percent to 19 ...

Fossil-fuel giant Russia tiptoes toward low-carbon future

Anastasia Bogdanova | March 31, 2020
img0 ST. PETERSBURG, RUSSIA – Fossil fuel-rich Russia has for the first time set out a greener economic path for the coming three decades, in a long-term, low-carbon development plan released this week. It pledges to cut planet-warming emissions by a third by 2030 from 1990 levels, when the heavily industrial Soviet Union collapsed, although that represents ...

Europe’s plan to introduce a carbon import tax is forcing Russia to go green

Anastasia Bogdanova | March 9, 2020
img0 Europe wants to be carbon neutral by 2050, and is about to introduce a carbon import duty that is already forcing Russia’s biggest companies to speed up their efforts to go green. As part of the EU’s Green Deal launched last year, the European Commission (EC) published its European Climate Law on March 4 that includes a “Carbon Border ...

Mining Weekly: Russia set to overtake China as biggest gold producer from 2029

Anastasia Bogdanova | March 6, 2020
img0 Research agency Fitch Solutions says global gold mine production growth is set to rebound in the coming years, owing to higher prices and mergers between major mining firms. The agency forecasts global gold production to increase from 107-million ounces this year to 132-million ounces by 2029, averaging a yearly growth rate of 2.4%. This compares ...

Russia’s finance ministry said to eye tax on miners as lower oil revenues loom

Anastasia Bogdanova | March 3, 2020
img0 Russia’s Ministry of Finance is reportedly looking beyond the oil and gas industry to the country’s mining sector for funds to bankroll new social spending ordered by President Vladimir Putin at the start of the year, with the prospect of declining oil production and associated revenues on the horizon. The Ministry of Energy told S&P ...

Russia: Central Bank Proposes Amendment of Digital Assets Law to Include Tokenization Platforms

Anastasia Bogdanova | February 18, 2020
img0 In an announcement dated February 17, 2020, the Central Bank of Russia (CBR) stated that it had successfully completed a blockchain tokenization pilot using a platform developed by Nornickel within its regulatory sandbox. Incoming Changes to Russia’s Proposed Crypto Legislation? Following the steps of other global superpowers, Russia has amped up its efforts to become one of ...