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Russia’s metals and mining industry represents around 3%-5% of Russia’s 2015 GDP and also accounted for 16% of total Russian exports in 2015 (or USD53 billion), the second-largest sector after oil and gas. Most Russian metals production is exported.
The mineral industry of Russia is one of the world's leading mineral industries and accounts for a large percentage of the Commonwealth of Independent States' production of a range of mineral products, including metals, industrial minerals, and mineral fuels.
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Overview of the gold mining industry in Russia in . - Invest in Russia. From 1995 to 2014, the Russian gold mining industry changed dramatically . and secondary gold production), a 13.2% than other national industry sectors.
The major regions for production of minerals are the North Caucasus, the Far East region of Russia, East Siberia and the Kola Peninsula. In the year 2005, the metallurgical sector was alone responsible for 19% of the total industrial production in Russia. Also, it employed 9.3% of the total industrial labor workforce.
Russia is the most industrialized of the former Soviet Republics. However, much of its industry is antiquated and highly inefficient. Besides its resource-based industries, it has developed large manufacturing capacities, notably in machinery. Russia inherited most of the defense industrial base of the Soviet Union.
Mining is one of the largest industries in Russia, accounting for a large percentage of the world’s mineral products, commodities, metals, oil, and gas. In fact, oil revenues account for 14 percent of the country’s GDP, and 9.3 percent of Russians are employed in the industrial mining labor force.
In terms of the economic sectors of Russia, the services sector is the largest contributor to the economy, making up 60% of GDP. This is followed by the industrial (36%) and the agricultural (4%) sectors. Service Sector The services industry is the most important sector of the economy of Russia.
KPMG's Metals & Mining Sector as part of KPMG Global Centers of Excellence is able to bring leading expertise to Russia and the CIS region to deliver customized solutions to our clients that enable them to respond quickly and effectively to industry opportunities.
In Russia, the coal industry now employs around 151,000 citizens, and another 500,000 people work in related industries, and the consequences of that trend have to be thought about at both corporate and national levels.