OREANDA-NEWS. May 14, 2008. PricewaterhouseCoopers Russia welcomed Tim Goldsmith, PwC Global Mining Leader, in Moscow. Mr Goldsmith gave a presentation on the main issues and challenges facing the industry at a roundtable arranged by PwC for major Russian mining companies, reported the press-centre of PwC.

In his presentation Mr Goldsmith emphasised that the global mining industry is growing rapidly, creating enormous opportunities for countries rich in natural resources that are able to position themselves to take advantage of global trends and demands.

To achieve long-term benefits, governments need to understand that the mining industry requires large investments. Mr Goldsmith pointed out the importance of transparency and regular dialogue between industry and governments; he also stressed that it is critical for governments to establish clear objectives with consistent policies for continued success. Tim highlighted the growing presence of Russian companies on the world stage, a trend that looks to continue.

“Russian companies have broken out beyond their borders more and more over the past few years, and we will surely see more of this in the future. Companies like Norilsk Nickel, UC Rusal and Evraz now operate across the globe, with acquisitions set to rise by these and other companies. Cash is king, and any company that has it can make these acquisitions and allow it to take advantage of the high prices we see for commodities. Russia is positioned on the doorstep of its many potential customers. PwC Russia expresses its desire to support both the government of Russia and the mining sector to facilitate the development of Russia as a leading country shaping the future of the mining industry globally,” said Peter Gerendasi, managing partner at PwC Russia.