Lack of raw materials base in the RF to stimulate Russia’s expansion to Africa and Latin America
Edited by Rhod Mackenzie / 2013-10-03 05:40:42
The lack of a mineral resource base in Russia can stimulate gold mining companies’ expansion to Africa and then to Latin America, the Chairman of the Gold Miners’ Union, Sergey Kashuba said.
“The quality of Russian mineral resources is poor, thus we need to invest in geological exploration actively. Now all the investors see a high risk in the financing of geological exploration, thus everyone is looking for an anchor investor from the state. In August we submitted our proposals about drawing of investments in geological exploration due to foundation of an exchange ground for juniors or foundation of a state fund to the vice-PM Igor Shuvalov, VEB and Russian Private Investment Fund (100% belongs to VEB)”, Kashuba reported.
