The depletion of Soviet-era gold deposits and a weak ruble are pushing Russia into expanding mining operations for the precious metal at home, in one of the harshest environments on Earth.
It gets so cold here that during the winter some people keep their engines running 24/7 to keep from freezing. Minus 40 celsius, that’s routine.
But here in Russia’s Yakutia region, a weak ruble and the depletion of Soviet-era gold deposits is driving a new rush for that precious metal.
It presents some extreme challenges for miners.
Russia’s miners are no stranger to these conditions. The region was historically known for having unusually high amounts of gold ore just beneath the surface.
Enough that prisoners in Gulag labour camps used to be forced to pan for the stuff with their bare hands.
But less is found these days and the industry is switching to expensive factories and digging deep mines to keep production going.
It may be years before they turn a profit.
Russia is the third largest gold producer in the world, behind China and Australia — now trying to keep its spot, in this harsh environment.
Enjoy reading Arctic Today?
At Arctic Today, we strive every day to bring you reliable information on one of the world’s most
dynamic and rapidly changing regions. Independent journalism ensures that stories about Far North
communities, businesses, and governments are told without fear or favor. Your support helps us continue
our important mission. Become a supporter today and join us in getting the word out on this vital
region. Together, we can ensure that the Arctic story is told accurately and responsibly. Arctic Today
is a U.S. non-profit organization. Donate to support Arctic
Today here.
This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Cookie settingsACCEPT
Privacy & Cookies Policy
Privacy Overview
This website uses cookies to improve your experience while you navigate through the website. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may have an effect on your browsing experience.