The head of the National Bank of Ukraine Serhiy Arbuzov believes that gold mining in Ukraine will allow replenishing gold value reserves of the NBU.

In an interview with ForUm, Arbuzov underlined importance of the National program of development of Ukraine's mineral resources base for the period till 2030, approved as a law on April 21, 2011.

According to him, NBU is considering to invite an international audit company, which will confirm gold reserves in Ukraine, as it is a required condition for industrial gold mining.

"According to the procedure, the mined gold will be bought by NBU and after refining will replenish gold value reserves of the National Bank. This will allow us add gold to NBU reserves and confirm it in IMF," NBU head explained.

According to him, the president and Cabinet have reached an agreement regarding increase of gold value reserve of NBU.

Due to data of the State Geology service, Ukraine possesses about 2.5-3 thousand tons of gold. The biggest  deposits are in the Carpathians (about 400 tons), Great Donbass (about 500 tons), Kirovograd and Dniepropetrovs regions and in Crimea. It is planned to mine the first part of gold already in 2011.


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