Russian government claims record gold output in 2025, expert says it may be exaggerating by 100 tons

Russian government claims record gold output in 2025, expert says it may be exaggerating by 100 tons

Russia claims 485 tons gold in 2025; independent analysts report 345 tons. The 30% gap stems from Moscow reporting ore-extracted rather than refined metal, masking processing losses. For supply-chain and country-risk assessment, official data can obscure operational reality.