Russian's resources

Overview of the mining industry in Russia

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...

Related articles:

Issue 12/2015

Current Mining Development in Russia

Current Mining Development in Russia

1?Introduction About a year ago the RBTH media service of the Rossiyskaya Gazeta announced that Russia plans to mine rare earth metals on the moon. According to plans published by the Russian space...

Issue 03/2020 Current market developments

Russia’s mining industry on an upswing

1? Introduction The political and economic instability, the situation in Ukraine, current developments regarding the imposed sanctions and the uncertainty and volatility of the financial and...

Issue 09/2023 Turn of the times

Development of the mining sector in India

1 Economic development India is now the fifth largest national economy in the world and, with sustained growth, it will rank third behind the USA and China by the end of this decade. Despite...

Issue 12/2009

Clean coal

Trends in coal beneficiation

1 Development of the coal industry In the primary energy consumption statistics, the worldwide consumption of coal has increased since 2002 at an average annual rate of 5.4 %, compared to 3.1 % for...

Issue 10/2011


Canada’s mining industry experiencing an upswing

1 Introduction In comparison with the Euro countries, Canada’s economy suffered little damage during the recent global economic crisis. The average real economic growth was 2.1?% between 2000 and...