Twittern

Russian's resources

• Development of the Russian GDP and national debt...

• 

• Open-pit operation of the Siberian Coal Energy...

• Coal washing plant of Kuzbasskaya (Mechel)

• Steel production in Russia (MetalloInvest,...

• LGOK iron ore mine (MetalloInvest)

• SGOK iron ore mine (NLMK Steel)

• Development of demand for copper and nickel...

• Norilsk flotation plant (Norilsk Nickel)

• Underground mine (Norilsk Nickel)

• Production rates for palladium (Johnson Matthey)

• Production rates for platinum (Johnson Matthey)

• Grinding system at Norilsk Nickel (Norilsk...

• Most important diamond producing countries (GFMS)

• Mirny diamond mine (Alrosa)

• Udachny diamond mine (Alrosa)

• SAG mills in an ore beneficiation operation...

• Classifiers in an ore beneficiation operation...

• Growth countries on the gold mining sector (GFMS)

• Gold casting at Polyus (Polyus)

• Norilsk Nickel ore beneficiation plant

• 

• Blagodatnoye mining operation (Polyus)

• Kupol mining operation (Kinross)

• Grinding systems in the Kupol mine (Kinross)

Summary: Russia is one of the countries with the richest raw material deposits. Aside from the energy resources oil, natural gas and coal, Russia possesses such important mineral resources as iron ore, nickel, copper, metals of the platinum group, gold and diamonds. In 2009, oil production increased slightly by 1.5 %, while the production rates of gas and coal decreased by 12.2 % and 8.5 % respectively compared to the preceding year. All in all, the country‘s output of mineral resources decreased by 1.2 % as a result of the worldwide economic crisis. However, the market is currently again showing a distinct upswing with a growth rate of 5.8 % in the first half of 2010. Oil, gas and coal account for over 70 % of Russia‘s exports, which underlines the degree to which the country‘s economy and national revenue are dependent on the raw materials markets. This report presents an overview of Russia‘s mining industry, describes the significance of the most important ­sectors and provides information about the biggest mining companies.

1 Economic development and raw material exportation

Russia‘s economic development is strongly dependent on its mineral resources and on raw materials prices. In 2009 its economic performance declined by 7.9 % while its nominal gross domestic product (GDP) sank from US$ bn 1660 to 1230 (Fig. 1). The country‘s budget deficit reached a percentage share of minus 5.9 % in the GDP. This was not primarily due to Russian economic stimulus packages aimed at cushioning the impact of the global economic crisis, but was a result of the simultaneous slump in oil prices. It can be assumed that a 1 US$/barrel...