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MOSCOW: President Vladimir Putin affirmed Russia's possession of the second-largest coal reserves in the world and stressed the country's ongoing leadership in the global coal market, despite the industry's current challenges, as reported by Russian News Agency TASS. Russia possesses substantial reserves of coal, coke, iron ore, and other minerals, which nature has generously bestowed upon the nation, continuing to form the backbone of the national economy.

Russia's coal reserves rank second globally, with the country holding the third position in coal exports and sixth in production. In a video message marking Miner's Day, Putin stated that Russia remains at the forefront of the global coal market, even amidst the challenging period the coal industry is experiencing. He added that the nation's coal industry meets its domestic demand for coking and thermal coal.

According to Putin, the country's coal production in the previous year amounted to 440 million tonnes, while also witnessing an increase in labor productivity, which rose by 18% over a span of five years. Putin reaffirmed the commitment to further develop the coal industry, highlighting the focus on optimizing transportation logistics, enhancing workplace safety, improving miners' quality of life and the well-being of their families, as well as the enhancement of cities and towns.

He also emphasized the industry's dedication to adopting digital innovations and high-performance equipment, showcasing how modern coal mining is an industry of the future. Putin stressed that the coal industry should prioritize workforce training and elevate the prestige of mining professions.