[Russia Provides First Gold Mining Volume Estimate in Years, Data Far Exceeds Expectations] Odaily Planet Daily News – Russia has released its first gold mining volume data in years, and the figures far exceed independent industry estimates. If the data is accurate, Russia would become the world's largest gold producer. Alexander Kozlov, Russia's Minister of Natural Resources, revealed to TASS that the country's ore production this year should be between 480 and 500 tons. Last year's production was approximately 480 tons. The ministry confirmed that Kozlov was referring to gold mining volumes but provided no further details. However, executives from two major Russian gold mining companies expressed skepticism about the figure, stating that it is difficult to explain. This news is significant for the market, as Moscow has stopped publishing official gold mining data since the Russia-Ukraine conflict began in 2022. The announcement is also surprising because the figure is about 50% higher than the World Gold Council's forecast for Russia's 2024 mining output, and the country has not introduced any major new deposits into production in recent years, making it unlikely to rapidly increase output. According to data released by the World Gold Council, Russia mined approximately 330 tons of gold in 2024. (Jin10)