Gold Devaluation Incoming as World’s Biggest Reserve Discovered

sukhoi log gold mine

Some $76 billion worth of gold has been discovered in Siberia with Russia’s biggest gold miner, Polyus, stating it is the largest gold deposits in the world. The Sukhoi Log mineral reserve contains 40 million ounces of proven reserves as measured by international JORC standards, with an average gold content of 2.3 grams per ton, worth $76 billion. “We are pleased with the results yielded by our exploration programme at Sukhoi Log,” said Polyus’ CEO Pavel Grachev before adding: “The publication of the maiden ore reserve estimate represents a significant milestone for Polyus’ long-term development strategy and confirms Sukhoi Log’s position as one of the world’s highest-calibre gold deposits.” In addition about 256,000 ounces, worth half a billion, have been discovered in Iran. Mandana Zanganeh, the province’s under-secretary in Iran for economic affairs said according to local media: “The discovered gold mine in Sistan and Baluchestan is one of the…

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