Russia’s Easy-to-Reach Mineral Deposits Nearly Depleted, Minister Says
Large and easily accessible mineral deposits in Russia are nearly depleted, the head of Russia’s Natural Resources Ministry said Wednesday.
“Geologists are forced to move further and further into the Arctic and difficult-to-reach regions of the Far East and Siberia,” Natural Resources Minister Alexander Kozlov said during a meeting with President Vladimir Putin.
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Kozlov also warned that deposits of critical minerals like uranium, chromium, manganese, anium, fluorspar, tungsten and aluminum at current mining sites, many of which were developed during the Soviet era, are projected to last only another five to 15 years.
He cautioned that the current low levels of mineral exploration could lead to a significant production decline across the industry, noting that “almost all profitable reserves in Russia are already under license.”
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