Minerals in Russia

Oil production

• Oil reserves in Russia
• Oil production in Russia

Gas production

• Gas production in Russia

Coal mining

• Coal mining in Russia

Diamond mining

Main article: Diamonds (Russian market)

Silver mining

2025: 4.14 kt increase in silver reserves

In 2025, according to preliminary data, the increase in silver reserves amounted to 4.14 thousand tons. This is stated in October 2025 in the message. Ministry of Natural Resources Russia Among the largest discoveries of the year is the Unkursk deposit, Trans-Baikal Territory which has almost 700 tons of balance reserves of silver and off-balance sheets - 295.7 tons. The Ministry of Natural Resources added that a significant increase was obtained due to the additional exploration of the Neuon-Tologoy field - 1.77 thousand tons and the revaluation of the Peschanka field - 1.29 thousand tons.^[1]

2023: World's 7th largest silver miner

2018

Copper mining

Main article: Copper mining and production

Uranium ore mining

2023

2022: World No. 6 in uranium mining with 2,500 tons

Digitalization of the field of mining in Russia

2023: Russia adopted a law on the digitalization of the sphere of occurrence of minerals

On December 5, 2023, the State Duma adopted amendments to the Law "On Subsoil" of February 21, 1992, which provide for the digitization of the occurrence of minerals. In accordance with document No. 222049-8, all natural resource reserves and distributed subsoil resources will be displayed on a special interactive map.

The Federal Subsoil Use Agency (Rosnedra) will create an additional section on its website with maps (schemes) on which mineral deposits will be displayed in relation to land and areas located outside the borders of settlements. Thus, developers will be able to independently find out whether there is a mineral deposit under the planned construction site or not.

The new system simplifies the preparation of the necessary documents. Previously, before the start of construction work, companies had to receive a certificate from Rosnedra stating that there was no distributed fund under the site of mineral reserves or subsoil plots. It took up to 15 days. After the appearance of interactive maps, developers will be able to receive an extract automatically online, attaching it to the permits. A special permit for development will be required only if the object falls into the zone of occurrence of minerals or the boundaries of existing licenses.

Information for the creation of maps will be provided by authorized executive authorities of the constituent entities of the Russian Federation in electronic form using a single system of interdepartmental electronic interaction and regional systems of interdepartmental electronic interaction connected to it. This will allow you to regularly update information in the database and update maps. The implementation of the platform will significantly reduce the burden on Rosnedra employees.^[2]"

Chronicle

2025

Norilsk Nickel launched a new cobalt plant for ₽5,3 billion

MMC Norilsk Nickel launched cobalt production in Monchegorsk after the completion of reconstruction. The company's investments in the project amounted to ₽5,3 billion. The updated production will increase the volume of production of valuable metal, as well as company revenues and contributions to the budget. This was announced on December 8, 2025 by the press service of Norilsk Nickel. Read more here

Investments in the exploration of solid minerals in Russia for the year increased by 43% and reached 132.6 billion rubles

The volume of investments in the exploration of solid minerals in Russia in 2025 will reach 132.6 billion rubles, an increase of 43% compared to 2024. This was reported on December 1, 2025 in Rosnedra. Read more here.

In Buryatia, began the development of the apatite field for ₽63 billion

Apatitagro, the Far East and Arctic Development Corporation and the Government of the Republic of Buryatia signed a trilateral agreement on the construction of a mine and an enrichment plant at the Oshurkovsky apatite ore deposit in the Ivolginsky district with a total investment of ₽63 billion. The project provides for the creation of 600 new jobs and tax deductions in the amount of about ₽50 billion to budgets of various levels. The document was signed by the head of Buryatia Alexei Tsydenov, the general director of the KRDV Nikolai Zapryagaev and the general director of Apatitagro Alexander Baranov on September 5, 2025. Read more here.

Marble began to be mined in Karelia again

In Karelia, after 20 years, marble mining is resumed. The project is being implemented at the Kovadyarvi field in the Pryazhinsky district, 7 km from the village of Kolatselga. The work is being carried out by the Prionezhskaya Mining Company, which decided to resume production due to the growing demand for natural stone in the construction industry. The reserves of the field are estimated to be significant, and the quality of the marble meets high standards. The start of the project became known in March 2025. Read more here.

4th in the world in rare earth reserves

Countries with the largest reserves of rare earths (in metric tons):

China: 44m

Vietnam: 22m

Brazil: 21m

Russia: 19 million

India: 6.9m

Australia: 4.2m

US: 2.3 million

Canada: 830,000

Myanmar: 510,000

Mexico: 290 000

USGS, Mineral Raw Material Summaries, January 2025

2024

3rd in cobalt production in the world - 8700 tons

In 2024, Russia took the 3rd place in cobalt mining (8700 tons). Such data are provided in the Investing News Network, which TAdviser got acquainted with at the end of November 2025. Read more here

Production of asbestos widely used in construction in the Russian Federation increased by 4% over the year and reached 620.6 thousand tons

Asbestos production in Russia in 2024 amounted to 620.6 thousand tons. This is 3.8% higher than in 2023. This is evidenced by data from the analytical company Alto Consulting Group, published in 2025.

The result demonstrates the stability of the industry. Manufacturers are coping with global challenges and adapting to changing demand. Companies are also considering tougher environmental production requirements.

Asbestos production in Russia increased by 4% over the year

The main leading region remains the Volga Federal District. It accounted for about 57.1% of total production. The geographical and infrastructure features of the region contribute to maintaining high production capacities.

The county's businesses provide both domestic market and export supplies. Developed transport infrastructure allows efficient delivery of products to consumers. Proximity to the fields reduces the logistics costs of producers.

In the period 2022-2024, average producer prices for asbestos increased by 20.9%. They increased from ₽20 432.2 per tonne to ₽24 705.7 per tonne. The rise in prices is explained by several factors.

The cost of mining and processing raw materials has increased. The cost of complying with environmental standards increased. Inflation processes also affected pricing in the industry.

In June 2025, the cost of asbestos adjusted down. The price decreased by 3.2% compared to May 2025 and amounted to ₽26 975.7 per ton. The decline could signal temporary market overheating.

The change in export conditions also affected pricing. Adjustment of demand in some markets led to a decrease in quotations. This may be a short-term phenomenon against the background of the overall stability of the industry. The balance of supply and demand in the industry directly depends on the combination of internal and external factors. Manufacturers are actively adapting to changing market conditions.^[3]

The production of mining miners in Russia for the year increased by 15.6%

The production of mining combines in Russia amounted to 37 pieces in 2024. The figure is 15.6% more than the previous year. The main contribution to production was made by the Ural Federal District. The region accounted for about 78.4% of the total output. The growth indicates a gradual recovery in the industrial sector and an increase in demand for specialized mining machinery. This is evidenced by data from a study by Alto Consulting Group, published in early October 2025.

The volume of production of mining combines is an important indicator of the state of heavy engineering and mining. The small absolute output numbers do not reflect the real value of the industry. Each single combine is a high-tech and expensive equipment. Qualified manufacturing and maintenance is required for the operation of machinery. The concentration of production in the Ural region is explained by the presence of specialized factories and engineering schools.

The annual increase in the production of mining miners in Russia amounted to 15.6%

Mining combines are key equipment for mining in enclosed spaces of mines. Efficiency, safety and cost reduction for labor-intensive penetration processes are ensured by machines. The high processability of production and the need for qualified personnel limit the number of manufacturers. Limited production capacity makes the market narrow and niche. Dependence on the supply of components and imported materials affects the cost.

The strong concentration of production in the Ural Federal District poses risks for the industry. Chelyabinsk and Sverdlovsk regions concentrated heavy engineering plants. Mining traditions have been formed for decades in the region. The presence of modern combines has a direct impact on the extraction of coal, ore and non-metallic minerals.^[4]

Natural graphite production in Russia increased by 13% over the year and reached 14 thousand tons

In 2024, the production of natural graphite in Russia increased by 13% and amounted to 14 thousand tons. This was reported in a study by BusinesStat, published in September 2025.

The positive dynamics of 2024 was the first growth after two years of decline. In 2023, the volume of output decreased to 12 thousand tons, which was the minimum indicator for a five-year period. A year earlier, in 2022, production was 16 thousand tons, which meant a decline of 6% compared to 2021. In 2021, on the contrary, there was an increase to 17 thousand tons (+ 18%), which made it possible to win back the reduction in 2020, when volumes fell to 15 thousand tons (-12%).

Natural graphite production in Russia increased by 13% over the year

Leading producers of natural graphite in Russia remain:

• LLC "Taiginsky Mining and Processing Plant."
• JSC "KrasnoyarskGraphite."

BusinesStat experts point out that the drop in 2022-2023 was due to rising production and processing costs, higher logistics costs and difficulties in maintaining equipment due to sanctions. Restrictions on the supply of imported equipment led to a decrease in production capacity and a deterioration in the quality of the final product.

The industry is showing a strong reliance on foreign technology. Graphite production in Russia is concentrated mainly in Siberia and the Urals, and key consumers are in the European part of the country. This geography increases transportation costs and makes domestic graphite less competitive. In 2020-2024, imports occupied from 20% to 30% of the market.

Analysts attribute the growth in 2024 to an increase in demand for graphite from metallurgy, mechanical power, the nuclear industry and battery manufacturers. The increase in interest in the material is also due to the development of electrical engineering and the chemical industry, where graphite is used as a raw material for electrodes, catalysts and refractory products.^[5]

Profit of enterprises in the field of mining for the year increased by 9.2% and reached 6.68 trillion rubles

At the end of 2024, the net profit of Russian enterprises in the field of mining reached 6.68 trillion rubles. This is 9.2% more than in the previous year, when the figure was 6.12 trillion rubles. Such data are given in the materials of Rosstat, published in early March 2025.

According to published statistics, in 2024, enterprises in the region under consideration, which showed positive dynamics, recorded a total profit of 7.49 trillion rubles, which is 7.8% more on an annualized basis. At the same time, unprofitable organizations suffered total losses of about 810.7 billion rubles, which is 2.7% less compared to 2023. Thus, the profit and loss balance amounted to the indicated 6.68 trillion rubles.

The profit of Russian enterprises in the field of mining for the year increased by 9.2% and reached 6.68 trillion rubles

The share of profitable enterprises in the field of mining in 2024 amounted to 65.9%, unprofitable - 34.1%. A year earlier, these values ​ ​ were 68.6% and 31.4%, respectively.

In total net profit, the main contribution was provided by oil and natural gas production - about 5.28 trillion rubles with an increase of 15.7% compared to 2023. In the segment of metal ores, an increase of 51.8% was recorded - up to 1.17 trillion rubles. At the same time, coal mining enterprises suffered 112.6 billion rubles in net losses. Mining of other minerals provided 43.7 billion rubles of net profit, which is 77.2% less on an annualized basis.

The share of profitable enterprises in the field of oil and natural gas production in 2024 amounted to 60.7%, unprofitable - 39.3%. In the direction of metal ores, the values ​ ​ are 64.6% and 35.4%, respectively, in the field of coal mining - 46.7% and 53.3%. Among organizations specializing in other minerals, profits in 2024 showed 72.3%, and losses were incurred by 27.7%.^[6]

Rosatom opened the largest gold reserves in Russia since 1991

Rosatom has opened the largest gold reserves in Russia since 1991. We are talking about the Sovinoye deposit in Chukotka, where more than 100 tons of precious metal are located. This was reported in the state corporation in mid-January 2024.

A mining cluster was created on the basis of the Sovinoye field, for this the Rosatom division has already invested more than 1 billion rubles. Drilling operations took place all year round in conditions of continuous permafrost. Specialists managed to drill 123 wells more than 32 km long.

Vyacheslav Galaktionov, General Director of Elkonsky MMC (quoted by the ARMZ press service), said that by the end of 2028, Sovin will launch mining and processing production. There are plans to produce from 3 tons of gold per year.

We see prospects for expanding the entire mining cluster in the Chukotka Autonomous Okrug, he said.

In November 2023, ARMZ and the Chukotka government signed an agreement on cooperation in the development of Soviny and the creation of an energy industrial cluster in the region. The press service of the region then reported that the volume of capital investments of the investor in the project would be about 20 billion rubles. Sergei Grishunin, Managing Director of the NRA Rating Service, notes that such projects in Russia are on average 20-30% more expensive than the original plans, so an estimate of 23-27 billion rubles seems more realistic.

Rosatom noted that to provide the production site with electricity, the ASMM construction project will be implemented. The nuclear power plant will also provide power to adjacent ore fields and the Leningradsky residential village. The thermal capacity of the reactor will be 35 MW, which will ensure the generation of up to 10 MW of electricity. The life of the power plant is 60 years.

The Sovinoye deposit of the Ryweemsky ore field, together with the Dor ore field, is part of the Pilkhinkuul-Ryweemsky gold-bearing junction located in the northern part of the Chukotka Autonomous Okrug off the coast of the Chukotka Sea.^[7]

2023

Russia is the leader in asbestos production in the world

At the end of 2023, Russia took a leading position in the world in asbestos production with a share of 48% of global production. This material is of strategic importance to the construction industry and a number of other industrial sectors.

According to RIA Novosti, based on research by the US Geological Survey, Russian leadership in asbestos mining is part of the country's wider dominance in the field of mineral extraction. In particular, Russia is among the leading producers of more than 40 types of critical minerals.

Russia has become the largest producer of asbestos

Pavel Sevostyanov, Real State Adviser of the Russian Federation, Associate Professor of the Russian Academy of Natural Resources named after G.V. Plekhanova, noted that on the eve of trade wars, the country's resources need to be preserved, especially since restrictions on supplies are likely to increase prices.

In addition to leading the production of asbestos, Russia occupies a leading position in the extraction of other strategic materials. In particular, the country provides 44% of global palladium production, 40% of industrial diamonds and 32% of jewelry diamonds. Rosatom State Corporation controls 36% of the global enriched uranium market.

In the context of global competition for resources, the president Russia Vladimir Putin proposed to consider the possibility of restricting the export of a number of strategic materials to unfriendly countries. The move aims to protect national interests and develop a domestic processing industry.

Russia also holds significant positions in the extraction of other minerals: second place in the extraction of vanadium (20%) and potassium carbonate (17%), third place in the production of selenium (10%) and aluminum (5%). The Russian corporation VSMPO-Avisma, according to the international consulting company Efeso, is the world's largest manufacturer of titanium products with a market share of about 25%.^[8]

2.1% reduction in metal ore production

Metal ore mining in Russia showed a decrease of 2.1% in 2023 compared to 2022, as evidenced by official statistics published in November 2024.

According to Rosstat, the most significant reduction was recorded in the production of iron ore concentrate - by 4.4% to 90.9 million tons. At the same time, the volume of crude iron ore production decreased by 3.4%, amounting to 286 million tons.

Metal ore mining has decreased in Russia

It is noteworthy that the only growing segment was the production of iron ore agglomerate. During the reporting period, the indicator increased by 1.8%, reaching 56.4 million tons. In December 2023, agglomerate production increased by 4.4% compared to December 2022.

The production of iron ore pellets in 2023 decreased by 2.3% to 46.7 million tons. A particularly noticeable drop was observed in December, when output decreased by 6.5% compared to the same month in 2022, amounting to 3.8 million tons.

The December indicator of total metal ore production also showed negative dynamics, having decreased by 3.6% by December 2022 and by 5.3% by November 2023. The volume of crude iron ore production in December amounted to 22.7 million tons, which is 3.6% lower than in December 2022.

A similar trend is observed in the segment of non-metallic useful. minerals Total production in this sector for 2023 decreased by 3.7%. In December, the fall turned out to be even more significant - by 14.5% compared to December 2022 and by 25.1% compared to November 2023.

The production results of the industry demonstrate a systemic decline in production volumes in most key positions, which reflects the overall trend in the mining sector of Russia in 2023.^[9]

2022: Top 10 leading countries in the production of critical raw materials

2021: Russia's share in the global production of rare earth minerals - 1%

2018: 3rd in terms of mining output

Notes