Russia To Create New Golbal Mining Giant

Former chief of Anglo-Australian mining concern BHP Billiton Brian Gilbertson yesterday made a forecast of a foundation of a new mining giant. He believes that it would emerge from Russia and the Commonwealth of Independent States member countries to rival BHP Billiton, Anglo Gold and Rio Tinto.

?There has not been a major Russian company to compete with global majors such as BHP Billiton, Rio Tinto and Anglo American,? Gilbertson said. ?I think that is going to change.?

Gilbertson, the current CEO of SUAL, Russian aluminium giant, fell short of predicting that SUAL would become the new monster miner, as it would have too far to grow. But he added he planned to expand SUAL, possibly through operations or acquisitions in SA.