Mining

Mining
   With its vast and varied geography, Russia possesses more mineral resources than any other country in the world. The sector is considered to be a strategic part of the economy, and many of Russia’s largest companies are mining concerns, including Rusal, Norilsk Nickel, and ALROSA. Russia is the world’s top producer of palladium and nickel, and ranks second in aluminum. It is also a world leader in coal, gold, copper, iron ore, diamonds, lead, potash, cobalt, zinc, uranium, and various rare earth metals. Most the country’s mines are located in Asiatic Russia, particularly in eastern Siberia and the Russian Far East, though the North Caucasus region yields various minerals. Kaliningrad commands the vast majority of the world’s amber deposits. Historically, foreign investment in the mining sector has remained underdeveloped due to concerns about high taxes and the unreliability of the judicial system. Nonetheless, expenditures and inward foreign investment rose dramatically under Vladimir Putin. However, the Kremlin’s decision to nationalize gold mining in 2008 underscored preexisting concerns about foreign investment. Increasingly, Russian companies and the state have shown interest in outward investment. Most dramatically, Gazprom announced a $4 billion deal with Venezuela in 2009.
   See also Natural gas; Oil.

Historical Dictionary of the Russian Federation. . 2010.

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  • mining — min‧ing [ˈmaɪnɪŋ] noun [uncountable] the action or industry of getting minerals out of the earth by digging: • a mining company ˌopencast ˈmining mining in which minerals, especially coal, is taken out of holes in the ground near the surface, not …   Financial and business terms

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  • Mining — Min ing, n. [See {Mine}, v. i.] The act or business of making mines or of working them. [1913 Webster] …   The Collaborative International Dictionary of English

  • mining — n. The process or business of extracting minerals from the earth. The Essential Law Dictionary. Sphinx Publishing, An imprint of Sourcebooks, Inc. Amy Hackney Blackwell. 2008 …   Law dictionary

  • mining — (n.) 1520s, verbal noun from MINE (Cf. mine) (v.1) …   Etymology dictionary

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  • Mining — This article is about the extraction of geological materials from the Earth. For the municipality in Austria, see Mining, Austria. For the siege tactic, see Mining (military). For name of the Chinese emperor, see Daoguang Emperor. Simplified… …   Wikipedia

  • mining — /muy ning/, n. 1. the act, process, or industry of extracting ores, coal, etc., from mines. 2. the laying of explosive mines. [1250 1300; ME: undermining (walls in an attack); see MINE2, ING1] * * * I Excavation of materials from the Earth s… …   Universalium

  • mining — The process or business of extracting from the earth the precious or valuable metals, either in their native state or in their ores @ mining claim A parcel of land, containing precious metal in its soil or rock, and appropriated by an individual …   Black's law dictionary

  • mining — The process or business of extracting from the earth the precious or valuable metals, either in their native state or in their ores @ mining claim A parcel of land, containing precious metal in its soil or rock, and appropriated by an individual …   Black's law dictionary

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