Allowing individuals to mine gold could lead to a “gold rush” and the creation of a whole industry to serve private miners, he writes. TASS Regarding the leading analyst of “Finam” Alexander Potavin.
The Government Commission on Legislative Activities has approved an initiative where individuals can legally mine gold. Currently available only to legal entities. The head of the Far Eastern Ministry of Development, Alexei Chekunkov, said that the bill could be submitted to the State Duma in early March.
Potavin believes a “gold rush” is coming in Russia.
“A whole business layer is being created from scratch, this will lead to the creation of an entire industry that will serve private miners,” said the expert.
According to the forecast of Rosgeology, it is reported that in 2016-2017 Russia could cross the 300-tonne gold production threshold. It is possible to stimulate production only with the transition to fundamentally new technologies for the full development of sites, He insisted experts. It is also possible to increase production by legalizing the “black” gold business.