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Natural resources deposits of Russia’s North-West to appear on map for investors

The most promising for investors could be the diamond deposit in the Arkhangelsk Region and extraction of platinum and palladium in the Murmansk Region

ST. PETERSBURG, February 26. /TASS/. Specialists of the national geology holding, Rosgeologiya, will make a map of natural resources’ promising deposits, the holding’s Director Oleg Vasin told reporters.

The work will be organized under an agreement between the geologists and the North-West Strategic Partnership, signed on Monday. The project is supported by the Russian president’s envoy to the North-Western Federal District.

"This agreement’s task for us is a more close cooperation with the authorities," Vasin said. "We shall use the budget funds to find the areas, where exploration and extraction could be possible, and the following stages would be based on investments. The mutual interest is that the authorities receive information to attract investors, and we receive investors, for who we shall make a complex of geology exploration."

Back in 2008, appeared a geology-economic map of natural resources in Russia’s North-West. The map contains most promising areas, he explained. "This is what the state has been doing for years, but till now it was available for specialists only."

Now, this map would be updated and more detailed, he continued. "Under this agreement, we shall update the work, and then every governor having on the table a visualized database of natural resources in the region, would attract investors to develop the regional economy," he said, adding "investors should see potential deposits for investments."

According to the expert, the most promising for investors could be the diamond deposit in the Arkhangelsk Region and extraction of platinum and palladium in the Murmansk Region.

Partnership in the North-West

According to Director of the North-West Strategic Partnership Alexei Bagaryakov, the cooperation with geologists adds to realizing the regional base of natural resources.

"Our objective is to help governors realize what explored resources their regions have, so that they could present them at various forums, investment councils and so on," he said. "This also could be handy for investors searching for the investments, which are convenient and clear to them."

The North-West Strategic Partnership was organized in 2012 by Russia’s 11 regions in the North-Western Federal District. It unites also regional industries, businesses and non-governmental organizations. The partnership’s objective is cooperation between the authorities and businesses, sciences, supervising of investment and social programs.

Rosgeologiya is a Russian holding, which offers the entire spectrum of geology exploration. Its capital is owned fully by the state. The holding unites 53 enterprises throughout the country. The holding’s companies have opened more than 1,000 deposits.