The launch of the African project will be of crucial importance for Russia's independence from imports

The launch of the African project will be of crucial importance for Russias independence from imports

Currently, Arkmineral – Resurs JSC, together with the Government of the Murmansk Region, continues to work on the implementation of an investment project for the development of the Afrikandovsky deposit of perovskite-titanium-magnetite ores.  

The Afrikandovsky massif is Russia's largest complex deposit of titanium, niobium, tantalum and rare earth metals. JSC "Arkmineral-Resource" on 21.07.2020 received a license for a period up to 21.07.2045 for the right to use the subsoil of the central section of the Afrikandovsky field. At the moment, geological exploration is being completed significantly ahead of the license schedule. This was announced today by Governor Andrey Chibis, answering questions from the media during the annual press conference. 


"Exploration works are ahead of schedule, accordingly, as soon as they are completed, the financial model will be adjusted, because a lot depends on the results of this geology. As far as I know, there are issues related to the transfer of certain infrastructure, but all decisions will be finally made after the completion of exploration work," the head of the region stressed. 


Specialists have also begun the development of technological regulations, basic technical solutions for the quarry, tailings storage, factories and infrastructure, and extensive technological tests are being carried out. 

In accordance with the financial model developed by the NIFI of the Ministry of Finance of the Russian Federation, the project assumes an investment volume of 16.9 billion rubles and the creation of 646 jobs. The net budget effect for the first 30 years of the project implementation will amount to more than 130 billion rubles (including more than 28 billion rubles to the regional budget), and the total volume of purchases of domestic domestic equipment will amount to about 2.4 billion rubles. 

The launch of the African project, especially in the current conditions of sanctions pressure from unfriendly countries and the need to rely primarily on its own resources, will be of crucial importance for Russia's independence from imports of critically important and severely deficient metals in the interests of domestic industry, as well as for the socio-economic development and security of the Murmansk Region – a key region in the Arctic zone The Russian Federation and the most important outpost of our country on the north-western borders.

 
/ Ministry of Information Policy of the Murmansk Region /