All news

Murmansk authorities plan to cut mineral resources rent for investors

Earlier, President Vladimir Putin spoke about a new strategy for the development of the Russian Arctic to 2035

TASS, November 6. The Murmansk Region plans to attract more investors to the development of new deposits and to offer them a reduced rent for mineral resources use, the region’s Deputy Governor Olga Kuznetsova said on Tuesday.

"One of the solutions is to cut the initial payment coefficient from 1.5 to 1," she stated. "We have met with mining companies in an expanded format: the ones, that work in the region, those who plan new projects and those who are still uncertain whether to enter the Murmansk Region or not — for them this decision was the 'starting point.' Here belongs the Fyodorova Tundra project to develop lithium deposits."

According to the official, the regional government is about to present a strategy to upgrade its Arctic zone.

"The development directions, which will be reflected in the strategy, will be funded by the program for improving the Arctic zone," she continued. "The deadline is December 10, and by that time we must produce the final variant on the Murmansk Region’s strategy, that will be integrated into the federal strategy."

The strategy reflects "unprecedented measures of support for businesses in the Arctic," Kuznetsova went on. "Over the first three years, the Arctic zone’s residents will pay insurance premiums of up to 7.6%, and besides, they will have an option of either enjoying federal subsidies or lower taxes for infrastructure investments."

Earlier, President Vladimir Putin spoke about a new strategy for the development of the Russian Arctic to 2035. The document, he stressed, would integrate the national projects and state programs, investment plans of infrastructure companies and the Arctic regions’ development programs.