In Moscow continues MINEX Russia – the 14th Mining and Exploration Forum under the theme “Building up innovative excellence in mining and exploration.
On 2 October, Continental, SRK Consulting, AMC Consultants, ArtGeo and AAEngineering Group held master classes. On 3 October opened Tradeshow and Business program of the Forum.
Before the official opening, the Federal Agency of Subsoil and Subsoil Use (Rosnedra) held the 5th Annual meeting with mining companies operating in Russia.
The Forum participants gave an in-depth analysis of the mining and geological exploration industries. The forecast of growth of world prices for ores and metals, especially lithium and nickel, as a consequence of the growth of electric vehicles, indicates a coming revival of the industry and a more active transition to innovative methods in the medium term. Optimistic expectations were also expressed regarding the prospect of lifting the US sanctions on Rusal. At the same time, there were noted irreversible tendencies of ousting Russia on the world markets by China, both in mining and in industrial consumption of minerals. Limitations at the legislative level of foreign investment in the absence of domestic investment due to the still unformed culture of geological entrepreneurship were recognised as a significant deterrent to the development of the mining in Russia. Representatives of the Federal Subsoil Use Agency (Rosnedra), responding to questions from mining companies, announced their intention to work to correct the excesses in the legislation that impede geological exploration and investment. Noting the factors of operational efficiency, participants noted that the mining industry, like the construction industry, is currently the area of least penetrated by the digital technologies, however, breakthroughs are expected in the coming years.
The program of the second day of the Forum concluded with the MineVenture competition, which enabled junior mining companies to present their projects to the Russian and International investors.