MOSCOW, August 23. /TASS/. Russia has enough coal reserves to last over 100 years, Minister of Natural Resources and Environment Alexander Kozlov said.
"Taking into account current production rates, which amounted to almost 392 mln tons in 2023, and the potential to increase extraction, Russia has 100 years worth of reserves," he was quoted as saying by the ministry.
Russia’s commercial coal reserves located in 22 coal basins stand at almost 273 bln tons, of which 46.4 bln tons of coal are being exploited, the minister noted. "As of today, 618 coal licenses are in effect, including 482 for exploration and production of coal, 93 for geological survey, exploration and extraction, and 40 for geological study of subsurface resources, which includes search for and evaluation of coal fields," Kozlov said.
Moreover, Russia has enough coal reserves for any scenario of development of the country’s economy, the minister stressed. That said, geological exploration of coal fields is ongoing, funded primarily by private investors. "In 2022-2023 only, companies allocated over 4.3 bln rubles ($47 mln) for exploration, including brown coal, hard coal and anthracite works. Almost 277 mln rubles ($3 mln) were allocated from the federal budget in the reporting period for hard coal," he said.