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Article: The Russian Bear.(Russia has extensive mineral deposits, however much is low grade and difficult to mine)
- Article from:
- Mining Magazine
- Article date:
- February 1, 2001
CopyrightCOPYRIGHT 2001 Mining Journal Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The strengthening of Russia's mining industry [*]
Russia, the largest country in the Former Soviet Union (FSU), is one of the world's largest suppliers of raw commodities. According to the Russian Ministry of Natural Resources, the potential value of the confirmed, explored and estimated mineral reserves exceeds $28,000 billion, of which gas accounts for 32.2%, coal and shale for 23.3%, oil for 15.7%, non-ore commodities for 14.7%, iron for 6.8%, nonferrous metals and rare earths for 6.3%, and gold, platinum, silver and diamonds for 1%.
Some 70% of all Russia's export revenues are m one way or another connected with the exploitation of the country's ...