Outlook
The Russian Ministry of Natural Resources has developed a draft of a long-term program “On the Exploration and Prospecting of Subsoil Reserves and Reproduction of the Mineral Resource Base for a Period until 2020,” but despite this draft, Russia appears to have no clear strategy for developing its mineral resources. Rather, the country is intensively extracting its fuel and nonfuel mineral reserves, which is leading to the depletion of the majority of these reserves before the year 2020, if not much sooner.
In 2004 and 2005, Russian steel companies presented initial public offerings (IPOs) in the Western markets. This trend of presenting IPOs is set to continue in other sectors of the mineral industry. Consolidation of assets is also a recent trend, which is evident with the creation of Russia’s leading aluminum producer, United Company RUSAL, through such consolidation.
There is also a trend to internationalize Russia’s minerals have been very limited since world war II and ever since that the economy has been low.
Read more about this topic: Mining Industry Of Russia
Famous quotes containing the word outlook:
“My whole outlook on life changed with those three little words, “The rabbit died.””
—Anonymous Mother. Quoted in When Men Are Pregnant, ch. 5, Jerrold Lee Shapiro (1987)
“Even in ordinary speech we call a person unreasonable whose outlook is narrow, who is conscious of one thing only at a time, and who is consequently the prey of his own caprice, whilst we describe a person as reasonable whose outlook is comprehensive, who is capable of looking at more than one side of a question and of grasping a number of details as parts of a whole.”
—G. Dawes Hicks (1862–1941)
“The white man regards the universe as a gigantic machine hurtling through time and space to its final destruction: individuals in it are but tiny organisms with private lives that lead to private deaths: personal power, success and fame are the absolute measures of values, the things to live for. This outlook on life divides the universe into a host of individual little entities which cannot help being in constant conflict thereby hastening the approach of the hour of their final destruction.”
—Policy statement, 1944, of the Youth League of the African National Congress. pt. 2, ch. 4, Fatima Meer, Higher than Hope (1988)