Commercial and development trends in the Russian gold industry

Commencing from a platform acknowledging the capability of the Russian mining industry in open cut and underground mining operations a revitalisation of the industry will depend on an assimilation of mining economics and on an opportunity for technical training of Russian mining industry professionals. Successful foreign investment in parallel with the reconstruction of the industry rests on an understanding of culture, history, internal controls under central planning, and external factors affecting mining development. Impacting on foreign investment guidelines is a firm view among Russian mining professionals that it is only a matter of time before newly acquired technical and financial expertise will permit greater participation by Russian controlled companies into the international minerals trade. Foreign investment in the Russian mining industry will prosper if Russian aspirations for technical and economic independence are recognised and Facilitated. A way forward is proposed.