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Magadan region was among the leaders of the Far Eastern Federal District in industrial growth
The pace of industrial production in the Magadan region has become one of the highest in the Far Eastern Federal District. In 2019, this indicator in the region grew by 14,2%.
According to the press service of the Ministry for the Development of the Russian Far East, the main projects being implemented in the region are related to the mining industry. By the end of 2019, Kolyma became the leader in silver mining and was in second place in Russia in gold mining. Production volumes in the past year alone increased by 25%. The reasons for such high performance were mainly the launch of a new gold recovery plant (ZIF) at the Shturmovoye deposit and the reaching of the design capacity of the Natalka GOK.
Over the next four years, eight more fields are planned to be developed in the Magadan Region, two gold-mining plants commissioned, and an expansion of the Pavlik field already under development. In addition, authorities expect additional investment in the region after the commissioning of the power transmission line in Baimka and the modernization of the energy infrastructure.
Magadan region shows economic growth. The region entered the top ten subjects on economic health.The best result in the Far East is only in the Sakhalin Oblast, which became the second in the ranking for this indicator.