The Russian Government has approved an updated Strategy for the Development of the Mineral Resource Base until 2050. The Arctic, along with the Far East, is designated in the strategy as a priority territory, with geological exploration and subsoil use providing the necessary prerequisites and conditions for its comprehensive development. The Project Office for Arctic Development (POAD) writes about it.

All forecast indicators have been updated in the revised strategy for developing the mineral resource base, and the main objectives have been defined in the target scenario, emphasised the Russian Prime Minister Mikhail Mishustin during an operational meeting with his deputies. Among these, Mishustin mentioned the discovery of new large deposits. To this end, he said, efforts will be stepped up for comprehensive exploration of territories, especially in the most remote areas, including the Arctic and the Far East.

The Prime Minister also noted that the planning period 'in this significant area' has been extended by 15 years, until 2050; the previous version of the strategy, adopted in December 2018, extended the planning horizon to 2035.

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