Russia Opens Palladium Mining To Foreigners

Mineweb reported Russia’s ministry of natural resources has drafted a bill that will facilitate bringing foreign capital to gold, platinum group metals and diamond mining.

As quoted in the market news:

Russia’s gold reserves account for about 10 percent of the global volume, second only to South Africa’s, according to ministry data. Its share in palladium accounts for 24 percent of global reserves and in diamonds 35 percent.

But Russia lags behind countries such as Canada, Australia and the United States in exploration and development of minerals, Sergei Donskoi, recently named minister of natural resources, has said.

Click here to read the full Mineweb report.