Mining in Russia

Mining In Russia

The mineral industry of Russia is one of the world's leading mineral industries and accounts for a large percentage of the Commonwealth of Independent States' production of a range of mineral products, including metals, industrial minerals, and mineral fuels. In 2005, Russia ranked among the leading world producers or was a significant producer of such mineral commodities as aluminum; arsenic; asbestos; bauxite; boron; cadmium; cement; coal; cobalt; copper; diamond; fluorspar; gold; iron ore; lime; lithium; magnesium compounds and metals; mica, sheet, and flake; natural gas; nickel; nitrogen; oil shale; palladium; peat; petroleum; phosphate; potash; rhenium; silicon, sulfur; titanium sponge; tin; tungsten; and vanadium.

In 2005, the Russian economy benefited significantly from high oil, gas, and metal prices. Oil revenues accounted for about 14% of the GDP. Following the mineral fuel industry, the next leading branch of the mineral industry, in terms of its contribution to the national economy was the metallurgical sector, which contributed 19% of the value of industrial production, accounted for 11.1% of the value of industrial capital stock, and employed 9.3% of the industrial labor force. In 2005, a total of 1,071,000people were employed in the mineral extraction sector and made up 1.6% of the country's labor force. Investment in mineral extraction and metallurgy accounted for about 20% of total investment in the Russian economy.

Read more about Mining In RussiaLegal Framework, Production, Structure, Trade, Mineral Resources, Outlook

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Mining In Russia - Outlook
... a Period until 2020,” but despite this draft, Russia appears to have no clear strategy for developing its mineral resources ... of assets is also a recent trend, which is evident with the creation of Russia’s leading aluminum producer, United Company RUSAL, through such consolidation ... There is also a trend to internationalize Russia’s minerals have been very limited since world war II and ever since that the economy has been low ...

Famous quotes containing the words russia and/or mining:

    Today’s difference between Russia and the United States is that in Russia everybody takes everybody else for a spy, and in the United States everybody takes everybody else for a criminal.
    Friedrich Dürrenmatt (1921–1990)

    Any relation to the land, the habit of tilling it, or mining it, or even hunting on it, generates the feeling of patriotism. He who keeps shop on it, or he who merely uses it as a support to his desk and ledger, or to his manufactory, values it less.
    Ralph Waldo Emerson (1803–1882)