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Russia can cut exploration funding by 15% in 2015 — minister

February 05, 2015, 12:22 UTC+3 NEW DELHI
Russian's Ministry of Natural Resources expects a decline in exploration due to lowered budget financing, complex foreign economic conditions and an adverse situation in mineral resources market
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© ITAR-TASS/Yuri Smityuk

NEW DELHI, February 5. /TASS/. Government funding of exploration in Russia can suffer a 15% cut in 2015, the Minister of Natural Resources Sergey Donskoy said on Thursday.

"The exploration funding from the state budget is exactly in question, rather than exploration expenditures of private companies," he added.

The Minister of Natural Resources said earlier the ministry expects a decline in exploration this year due to lowered budget financing, complex foreign economic conditions and an adverse situation in mineral resources market.

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