Williamstown, MA -- (SBWIRE) -- 03/19/2012 -- The growing export demand from developing countries such as India and China, and the global economic recovery provides an optimistic outlook for the Russian mining industry. This will continue to be positive throughout the forecast period. The mining industry is projected to grow at a compound annual growth rate (CAGR) of 6.94% over the forecast period, to reach 647.7 million tons in 2015. In terms of production volume, coal is the leading category in the Russian mining industry, accounting for 68.6% of the total production volume in 2010. The mining equipment industry is expected to value RUB16.3 billion in 2011, an increase of 8.2% over the previous year.

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A significant increase in demand for construction materials was recorded during early 2011 and as a consequence an increase in the sales of minerals such as iron ore, nickel, copper and bauxite was witnessed. Natural calamities in Australia created a shortage of coal which caused prices to escalate more than 50%. Furthermore, companies are increasingly searching for green field mineral deposits as there is pent up demand due to lack of investment and companies continuing to explore existing deposits discovered during the Soviet era.

Key Highlights

- Russian mineral production is expected to total 495.2 million tons in 2011, an increase of 5.9% over 2010
- The Russian government announced plans to increase state expenditure for mineral resource exploration to US$23 billion by 2020
- Russia is the fifth-largest producer of iron ore, accounting for 4.2% of the global production in 2010. The country is the largest producer of nickel in the world, accounting for 17.1% of worldwide nickel production in 2010
- The Russian mining industry has become less competitive due to its lack of sophisticated machinery. There is a strong need to boost the industry's production with the latest mining technology
- Currently, 20 companies account for 91% of Russia's total coal production. The main producer of coal is Siberian Coal and Energy Company (SUEK)

Scope

This report provides a comprehensive analysis of the mining industry in Russia:

- It provides analysis of the country's mining industry production during 2005-2010, along with market forecasts until 2015
- It analyses the market size and production trends of the Russian mining equipment industry, and outlines the sector's future growth
- It benchmarks the Russian mining industry with key global markets
- Using Porter's industry-standard "Five Forces" analysis, it details the competitive landscape in Russia for coal, metallic minerals, non-metallic minerals and mining equipment
- It details the competitive landscape and strategic mining industry insights
- It provides a comprehensive analysis of the business environment and country risk for Russia

Companies Mentioned in this Report: Magnitogorsk metallurgicheskiy kombinat OAO, Mechel OAO, OJSC MMC Norilsk Nickel, OJSC Novosibirskenergo

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