More than 75% of Russian reserves of rare and rare earth metals are concentrated in the Arctic. Rosnedra reported that the development of these deposits will require multi-billion dollar investments.
Rosnedra confirmed that there are over 30 strategically important deposits in the Arctic. Among them are deposits of 12 rare metals, including niobium, tantalum, zirconium and gallium. This region accounts for almost 100% of the production of rare earth elements and more than 95% of the production of niobium, tantalum and zirconium in Russia.
Key deposits are already being developed. For example, in the Murmansk region, niobium and tantalum are mined at the Lovozerskoye deposit, and zirconium is mined at the Kovdorskoye deposit. Gallium and rubidium are also mined in the Arctic, but so far these metals have not been extracted from ore on an industrial scale. In addition, the region provides more than half of Russia’s cesium production.
At the same time, significant reserves of rhenium, indium, lithium and scandium remain untapped. Their development requires modern technologies and large investments.
To stimulate the production of strategic metals, the government is considering support measures, including subsidies for high-tech projects and guarantees of profitability for investors.
Source: @dprom
