Despite currency fluctuations and sanctions, Russian miners plan to supply more diamonds and minerals to export markets
The economic crisis in the Russian Federation, created by Western sanctions and falling global oil prices, at first glance seemed to be manna from heaven for the country’s mining industry. The foreign exchange rate for the Russian Ruble collapsed three times recently and each time export revenues surged, benefiting domestic miners. Even today, with the Ruble not as weak as it once was, export supplies are determining the direction of the country’s mining sector for the coming decade.
