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Russia Mining Report

Sep, 2016   |   82  Pages   |    BMI Mining |   Format : PDF
BMI View: Russia's gold and coal production growth will be the sector's relative bright spots, while PGM's and iron ore output growth will grind to a halt. Low metal prices, the country's inadequate infrastructure and Western sanctions will continue to limit the sector's production growth.

Latest Developments & Structural Trends

-The gradual re-orientation of Russia's coal exports from Europe to Asia will be driven by growing demand for both thermal and coking coal in the latter region (see 'Russia Eyes The East', February 10 2015).

-Russia's gold production growth will slow as the country's unfavourable regulatory environment towards foreign investment will deter new miners from entering the sector and limit new projects from coming online. While we expect gold prices to edge higher, prices will not recover to 2011-2014 heights over our forecast period to 2020.
BMI Industry View ............... 7
Table: Russia Mining Industry Value.............. . . . . 7
Table: Russia Mining Industry Value.............. . . . . 7
SWOT .... 9
Industry Forecast .............. 11
Coal: Eastward Shift To Support Growth ..... 11
Table: Coal Production Forecast (Russia 2014-2020)............ . 11
Table: Russia - Distance From Coal Production Area To Shipping Seaport......... . . 19
Gold: Output To Edge Modestly Higher ....... 21
Table: Russia - Gold Mine Production Forecast............21
Iron Ore: Metalloinvest To Be Key Growth Driver ......... 25
Table: Iron Ore Production (Russia, 2014-2020)............ . . . . . . 25
Nickel: Tough Times Ahead For Miners ....... 30
Table: Russia - Nickel Mine Production Forecast............ . . . . . . 30
Palladium: Muted Growth Ahead ............... 34
Table: Palladium Production............... . . . 34
Platinum: Vast Reserves Offer Significant Potential ....... 37
Table: Russia - Platinum Production.............. . . . 37
Table: Russia - Largest Platinum Projects............. . . . . . 37
Industry Risk/Reward Index ............. 41
Russia Risk/Reward Index ......... 41
Europe: Risk/Reward Index ....... 42
Table: Europe - Mining Risk/Reward Index............. . . . . 43
Regulatory Development .. 44
Commodities Forecast ..... 49
Commodities Outlook ............... 49
Table: BMI Commodities Price Forecasts............. . . . . . . 49
Competitive Landscape .... 51
Table: Russia - Key Financial Data.............. . . . . 52
Company Profile 54
Polyus Gold ............ 54
Table: Polyus Gold - Financial Data.............. . . . 56
SUEK .... 58
Table: SUEK Subsidiaries............... . . . . . . 60
Norilsk Nickel ......... 63
Table: Select Commodities - Price Forecasts............. . . 65
Table: Norilsk Nickel - Key Projects.............. . . . 69
Table: Norilsk Nickel - Key Financial Data............. . . . . 71
Regional Overview ............ 72
Methodology ...... 79
Industry Forecast Methodology 79
Sources 80
Risk/Reward Index Methodology ............... 81
Table: Weighting Of Indicators............... . 82