Current Mining Development in Russia

Current Mining Development in Russia

Summary: The mining industry of the Russian Federation (Russia) has shown a relatively positive development in the last year, compared to other major commodity-producing countries. Although the falling commodity prices worldwide are also affecting Russia, the drastic decline in value of the rouble and low oil prices have significantly reduced production costs, so that the competitiveness of Russian companies has increased despite sanctions from the West.

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 agency Roskosmos, a full exploration and mining base would already be established on the moon by the mid-2050s. It is believed that there are large deposits of rare earths on the surface of the moon. In May 2015 the plans were given new impetus by the fact that Russia and China stated their intention to carry out joint lunar missions. But already in August the Russian side said that the manned...

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