MOSCOW, October 25. /TASS/. Russia’s federal agency for mineral resources Rosnedra sees a vast potential for discovering new deposits in Africa, the agency’s chief, Yevgeny Kiselyov, told TASS on the sidelines of the Russia-Africa summit.
"What makes Africa so unique is the continent had long remained inaccessible to high-tech companies. The African continent, just as Asia, is poorly explored geologically. For this reason its potential for the discovery of new deposits is very significant," he said.
Kiselyov said that from the standpoint of implementing projects Africa was in no way different from the European part of Russia, North America or South America. The social and economic conditions were the sole distinction.
"The potential of Russia and the African continent is approximately identical from the investment standpoint," he concluded.
Sochi on October 23-24 hosted a Russia-Africa summit, co-chaired by Russian President Vladimir Putin and his Egyptian counterpart Abdel Fattah al-Sisi. Delegates from all 54 African countries took part and 43 of them were represented at the highest level. Also, the summit involved eight major African integrational associations and organizations.
On the sidelines of the Russia-Africa summit agreements were concluded between Russia’s leading companies and African partners in geological exploration and development. Rosatom obtained eight licenses to explore for uranium in Namibia, Rosneft as a member of a consortium has begun offshore seismic exploration near Mozambique, Rosgeologiya signed memorandums of understanding with South Sudan, Rwanda and Equatorial Guinea to explore for hydrocarbons. Lukoil may participate in exploration and production projects in Nigeria.