Gold production volume in Russia 1998-2021

In 2021, Russian gold production was measured at approximately 363.5 metric tons, marking a slight increase from the previous year. Over the observed period, the production volume peaked at nearly 366 metric tons in 2019. Between 2010 and 2019, the figures were increasing each year.

Russia’s position in global gold mining

Russia plays a major role in the global gold mining industry. The country is the third-leading gold producer worldwide. Its mine production of gold stood at 300 metric tons in 2021, following China and Australia. In total, Russia accounted for 10 percent of global gold production in that year. Furthermore, it was the seventh leading gold exporter, having supplied gold worth over 17 billion U.S. dollars to other countries in 2021.

How many gold reserves does Russia have?

Russia possesses the second largest mine reserves of gold, which were measured at 6.8 thousand metric tons as of 2021. That was roughly four thousand metric tons lower than the reserves of Australia, which topped the ranking. Moreover, the Russian Central Bank held nearly 2.3 thousand metric tons of gold reserves, which was the fifth largest volume worldwide.