Production of Copper in Russia reached 988.49Thousand Tonnes in 2023
Production grew by a CAGR of 3.90% between 2020 to 2023,and is expected to grow by...
GlobalData projects the production to grow at a CAGR of...
Copper production in Russia
Russia has deposits of copper, nickel and zinc, along with coal, iron ore, gold, diamond, aluminum, vanadium, tin, tungsten, potash, sulfur, silicon, rhenium and fluorspar. The mining industry is important for its economy and contributed a significant share towards the overall gross domestic product (GDP) in 2018.
The country ranked fourth globally. Copper reserves are predominantly located in Sverdlovsk, Krasnoyarsk Krai, Orenburg, and Chelyabinsk regions.
Ural Mining and Metallurgical Company (UMMC), MMC Norilsk Nickel and Russian Copper Company are the largest producers of copper in Russia. The mining industry in Russia is governed by the Ministry of Natural Resources and Environment, as well as the Federal Agency on Mineral Resources. The Subsoil Law is the main law for regulating mining activities in the country.
Copper reserves in Russia
According to the US Geological Survey (USGS), Russia with major share of copper reserves was the world’s fourth largest out of the global total. Russian copper reserves are predominantly located in Sverdlovsk, Krasnoyarsk Krai, Orenburg, and Chelyabinsk Oblast provinces.
Factors affecting the demand for copper
Domestic construction and infrastructure sectors
According to the Federal State Statistics Service (FSSS), the value of the Russian construction sector increased in 2018 over the previous year, owing to a major sporting infrastructure for the FIFA World Cup in 2018. Besides, the construction, which is now completed, of other projects such as the Nizhneleninskoye–Tongjiang Rail Bridge with China and the Crimea–Krasnodar Krai Bridge with Ukraine also contributed towards the overall growth of the Russian construction sector.
Domestic Automobile sector
Copper plays a vital role in vehicle components by providing functionality, efficiency, comfort and safety. Compared to fuel vehicles, electric vehicles (EV) require a greater amount of copper in electric motors, batteries, inverters, wiring and in charging stations. Therefore, growth in the EV industry will have a considerable impact in copper demand.
Nisan Leaf and Mitsubishi i-MiEV are the two major EV producers in the country.
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