Mineral and raw material complexes of BRICS countries — mutual supply of mineral commodities and joint regulation of international minerals market

Abstract

Mineral complexes of BRICS countries are supplementary to each other and one of promising directions of cooperation of the countries in this field is an expansion of mutual trade with mineral commodities and metals. In 2006–2018 the principal beneficiaries from such cooperation were SAR and Brazil which managed to dramatically increase export of commodities produced by their powerful mineral complexes in other BICS countries. On the other side close cooperation with these countries enabled China to turn into the principal customer of minerals and metals in international market, secure continuity of supply and price stability and get excess to mineral resources of other countries of the organization. At the same time expectation of future cooperation of BRICS countries in regulation of international mineral market for a number of reasons occurred to be strongly exaggerated.