The Russian Bear.(Russia has extensive mineral deposits, however much is low grade and difficult...

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 Russi