The Russian government has approved an updated Strategy for the development of the mineral resource base until 2050. The Arctic, along with the Far East, is named in the document as a priority territory, the necessary prerequisites and conditions for the integrated development of which are provided by geological exploration and subsoil use.
"The development of mineral resources contributes to the spatial development of the country, strengthening the economic position of the state, ensuring its national security," the document says.
According to Russian Prime Minister Mikhail Mishustin, efforts to comprehensively explore territories, especially in the most inaccessible areas, including in the Arctic and the Far East, will be increased in order to open new large deposits.
Today Russia is implementing a "Program for the geological study of subsoil areas in the Arctic zone of the Russian Federation in order to form a promising cargo base of the Northern Sea Route for the period up to 2035."
This document, which defines the priorities of geological exploration in the Arctic zone of the Russian Federation, was approved by the Ministry of Natural Resources in the summer of 2021.
The cost of the exploration work planned in the document is set at 191 billion rubles, the program includes two implementation periods: the first stage covers 2022-2024, and the second is designed for 2025-2035, goarctic.ru reports.
Alex Shishlo, Editor in Chief of the European Bureau, Rough&Polished
