Russia’s buried gold rush: How old mine waste could unlock billions
Russia holds an estimated 5,000 to 10,000 tons of untapped gold in technogenic placers—waste left behind by past mining. Reviving these old sites could bring major economic benefits, but high costs and red tape have so far blocked progress. Now, regional leaders are pushing for a solution that could unlock billions in revenue and create thousands of jobs.
Anatoly Shirokov, Speaker of the Magadan Regional Duma, recently proposed measures to extract gold from abandoned tailings. He argued that placer mining’s natural advantages—mobility and flexibility—are being stifled by excessive bureaucracy. Processing these technogenic deposits currently demands expensive exploration and regulatory approvals, often taking up to three years.
The revival of technogenic placer mining could transform Russia’s gold industry. Faster approvals and lower costs would allow regions like Magadan to tap into billions in untouched gold reserves. For local workers and economies, the changes could mean steadier incomes and long-term growth.
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