The Magadan Region is located in the northeast of the Russian Federation. In the northwest it shares a border with Sakha Republic (Yakutiya), in the west — with the Khabarovsk Region, in the north and northeast — with the Chukotka Autonomous District, and with Kamchatka in the east. The southern part of the region is washed by the Sea of Okhotsk. The Magadan Region, one of the largest regions of the Russian Federation rich in mineral resources, marks its 60th anniversary in 2013. The industrial development of the region began in 1928.
In that remote year, the first gold mining expedition organized by Soyuzzoloto started to mine for gold in the valley of the Srednekan River, the right tributary of the Kolyma, with 25 miners working for it. The first 11.5 kg of gold were extracted from the area’s placer gold deposits throughout 1928. All in all, more than 3,000 tons of gold, over 8,000 tons of silver, more than 70,000 tons of tin, 744 tons of cobalt, and more than 82 million tons of soft coal and construction material have been extracted from the depths of the Magadan Region in a period between 1928 and 2012
Governor of the Magadan Region