Russia claims gold production reaching 500 tonnes, surpassing China

Wednesday 03 June 2026 - 15:45

By: Dakir Madiha

Russia claims gold production reaching 500 tonnes, surpassing China

Russia plans to produce between 480 and 500 tonnes of gold in 2026, according to official projections from the country’s natural resources authorities. Estimates for 2025 place output at 480 to 485 tonnes. If confirmed, these figures would position Russia as the world’s largest gold producer, ahead of China.

The projections mark a sharp increase compared with widely cited international estimates. Global industry data for 2024 placed Russia’s mined gold output at around 330 tonnes, while China stood at approximately 380 tonnes. Under that baseline, Russia’s projected rise would represent an increase of nearly 45 percent in a single year. Analysts note that such a jump is difficult to reconcile with known mining capacity trends.

Beyond gold, the country has also reported strong output figures for other precious metals. Silver production is estimated at 2,600 to 2,800 tonnes in 2025, with a forecast of up to 3,000 tonnes in 2026. Production of platinum group metals is reported at 134 to 136 tonnes in 2025. These figures form part of a broader picture of expanded extraction across multiple resource categories.

Since the start of the Ukraine conflict in 2022, Russia has stopped publishing detailed official statistics on mineral production, limiting external verification. This has forced analysts to rely on third-party estimates and indirect indicators. The absence of transparent reporting has increased uncertainty around the country’s actual output levels, particularly in strategic sectors such as gold mining.

Financial flows linked to gold have also drawn attention. The central bank sold 27.9 tonnes of gold between January and April 2026 to support fiscal needs, reducing reserves to their lowest level in more than two decades. At the same time, gold exports to China reached 25.3 tonnes in 2025, a sharp increase compared with the previous year.

Officials also point to rising reserves of commercially exploitable deposits, which increased by 614 tonnes in 2025 through geological exploration. However, the gap between declared production growth and independent estimates remains unresolved, and no external audit has confirmed the scale of the reported expansion.