January gold output up 12.4% in Russia

Russian firms produced 7.53 tonnes of gold in January, 12.4 percent more than in January of 2010, the Gold Industrialists’ Union industry lobby said on Saturday.

The union expects gold production by Russia — the world’s No. 5 producer — to rebound to 205-207 tonnes this year after it fell 1.4 percent last year to 201.3 tonnes.

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