In 2011, eight Australian companies – Micromine, Russell Mineral Equipment, Austin Engineering, Maptek, Advanced Mining Technologies, Mineral Technologies, Alloy Steel International and Bradken – exhibited at the Australian pavilion.
Informal meetings in Moscow with Russia’s leading mining companies, such as SUEK, Mechel and Evraz, also equipped the participants with first-hand information on future project developments and products and services requirements.
The meetings were instrumental in starting new business or expanding existing ties with the companies.
In 2011, more than 215 leading companies from 22 countries exhibited for the first time, giving member companies the opportunity to showcase their products and services to the international mining communities from Russia, former Soviet Union countries and other international visitors.
Russia remains one of the world's largest mineral producers, accounting for 20% of nickel and cobalt production, 5-7% of coal and iron ore production and also a large share of the output of some non-ferrous and rare earth metals, platinum group metals, diamonds, apatite and potassium salts.
The mining industry is strategically important and is one of the most important industries in the Russian economy.
Besides ongoing modernisation in the existing mining industry and refining companies active in the mineral sector, a comprehensive effort is taking place to prospect for new mineral deposits.
Intierra Resource Intelligence estimates Russian companies have reached $US550 billion in foreign mining interests held.
Intierra’s research showed Russian-held resources at operating mines were now in the vicinity of $325 billion, while new deposits were worth $225 billion.
Optimisation of mineral production remains the key task for economic advancement in Russia.
It creates business opportunities for mining suppliers in terms of equipment, technology and services delivering cost-efficiency, productivity and safety solutions.
Russian mining companies are aware of the Australian expertise – but have limited direct exposure to Australian mining technologies and services.