Russian Government may support goldminers

The Government has discussed solutions to  support Russian gold mining companies, head of the Ministry of Industry and Trade, Denis Manturov reported.

"Now the Government considers the variant for solutions to increase the funding of the purchase of gold, to increase the amount of the advance payment for supplies of gold to the State Fund of Russia," - the Minister said in an interview, published by the Kommersant on Tuesday. He noted that it’s quite an effective mechanism to support Russian companies.

Manturov also mentioned the program for the rare earth metals. He recalled that the purpose of the subprogram, which started in 2013, is the creation of a competitive industry of rare and rare earth metals in Russia.