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2012-08-21 00:00:00
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Russian mining industry probably is the most under stated when compared to its BricPartners this is more to do with the fact that it has such a dominant Oil and Gas industry then a lack of resources and opportunities in the mining industry across Russia. Recent estimates state that Russia has over 20% of the world’s coal and iron ore reserves and its mining industry represents over 13% of the worlds global mining actives. Russia also has good resources of Gold, Diamonds, Palladium and magnesium compounds. With increased investment in Russia’s aging mining infrastructure then the mining industry in this Bric nation will gain stronger traction and possibly Russia will become more of an important player in the mining industry and more comparable to its fellow Bric Partners. BricPartner states that as Russian mining Technology tends to be on average up 68% older then the average across the mining industry in the leading G20 countries. The mining industry in Russia is attracting investment to help it improve its efficiency and compete with other leading mining nations.
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