New Market Report: Russia Mining Report Q2 2015

Mineral production growth is set for solid performance in Russia over the coming years. Growth rates for coal and gold will remain more robust than for PGMs and iron ore. Despite our positive outlook, the sector will struggle to come to terms with lower global mineral prices and the effects of western sanctions . Moreover, foreign investors will struggle to establish a foothold due to restrictive regulations.

We believe Russia's mining industry is set to experience solid, but not rapid, growth over the coming years. While Russia is home to rich deposits of resources including coal, iron ore, gold and platinum, a mining boom is unlikely to catch up with the country anytime soon. Apart from a myriad of bureaucratic hurdles, the escalation of cash costs, effects of western sanctions and softening of commodity prices will see a growing number of miners scaling back their ambitions over the coming quarters. Still, some major projects are set to come online, for example the Natalka gold mine under development by Polyus Gold, is set to come online in 2015.

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Deteriorating Relations With The West Presents Major Risk


Deteriorating relations with the West over Russian actions in Crimea and eastern Ukraine present a serious risk to Russia's mining sector. The implementation of international sanctions against Russia could dent mining sector growth if western demand for Russian minerals is curtailed over a long period. In Q414, the Russian government was forced to buy gold produced from its domestic mines to absorb excessive supply as sanctions have made it extremely difficult for Russian gold miners to sell abroad.

Coal To Outperform


We believe Russia's coal mining industry holds great promise for strong growth over the long term. President Vladimir Putin plans to spend an estimated USD123bn developing the country's coal reserves, alongside major investment into logistics and...

The Russia Mining Report has been researched at source and features Business Monitor International (BMI)'s mining and commodity forecasts for metals, minerals and gems, covering all major indicators including reserves, production, exports and values. The report also analyses trends and prospects, national and multinational companies and changes in the regulatory environment.

BMI's Russia Mining Report provides industry strategists, service companies, company analysts and consultants, government departments, trade associations and regulatory bodies with BMI's independent forecasts and competitive intelligence on the mining industry in Russia.

Key Benefits

* Use BMI's independent industry forecasts on Russia to test other views - a key input for successful budgeting and planning in this mining market.

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