Russian President Vladimir Putin stated the need to create industries in the Arctic with deep processing of minerals. This will increase the added value of products while preserving the unique nature of the region.
At the plenary session of the international forum “The Arctic – Territory of Dialogue”, Vladimir Putin noted that oil, gas, metals and other resources are being actively developed in the Arctic zone. Particular attention will be paid to geological exploration within the framework of the federal project “Geology: Revival of a Legend.”
The President emphasized that the key task is not only to extract raw materials, but also to process them locally. This applies to petrochemistry, gas chemistry and rare earth metals. To support such projects, special licensing programs developed by the Ministry of Natural Resources have been in place since 2023.
Auctions have already been held for 64 sites, and by 2035 it is planned to issue licenses for another 176. In 2025, auctions are expected for 30 sites, including large deposits of titanium, phosphorus, tin and tungsten.
Minister of Natural Resources Alexander Kozlov clarified that the Pinkelyavr field with reserves of 77 million tons has been explored in the Murmansk region, and in Yakutia the increase in oil and gas resources amounted to almost 5 billion tons of standard fuel.
Until 2027, large-scale geological exploration is planned in the Arctic, which will ensure an increase in reserves of chrome ores, copper, gold and diamonds. The forum “The Arctic – Territory of Dialogue” was held in Murmansk on March 26-27.
Source: @minprirody
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