Ukraine to begin gold mining this year

Golden Gate in Kiev, Ukraine

The Ukraine will begin large-scale commercial gold mining this year, reports BullionStreet.

The country is estimated to have resources of about 400 tonnes in the western Carpathian Mountains and 500 tonnes in the southeastern Donbas region.

The areas around the central city of Kirovohrad, the southeastern city of Dnipropetrovsk and the Crimea are said to have additional deposits.

Mining is expected to be focus on the western and central areas of the country.

In three to five years, the country is forecasted to output at least one tonne of gold.

Currently, the Ukraine does not produce its own gold and imports about five tonnes annually. The government estimates it can reduce imports by one-third as a result of domestic production.

Image: Kavun Kseniia / Shutterstock.com

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