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- Resource abundance: the Russian Federation will increase reserves of most types of raw materials to the production level or higher
Resource abundance: the Russian Federation will increase reserves of most types of raw materials to the production level or higher
In Russia, reserves of most types of raw materials will grow this year — at least to the production level or higher, said Oleg Kazanov, head of Rosnedra. For large resources, including oil and gas, the country strives to maintain its mineral base without reducing reserves, he added. In terms of scarce types, work is focused on prospecting, evaluating deposits and preparing for development — we are talking about uranium, chromium, titanium, lithium, tungsten and manganese, Kazanov said. Izvestia investigated which specific measures and technologies are most effectively used in Russia today to increase reserves of scarce minerals, as well as to what extent the current policy of reproducing the mineral resource base corresponds to global trends.
Search for raw materials
Russia has sufficient reserves of raw materials, including scarce ones, to cover the needs of the economy, the press service of the Ministry of Natural Resources and Environment told Izvestia. Hundreds of deposits are discovered every year. In 2025 — 317, of which 41 are hydrocarbons, the rest are solid minerals. Among the major finds are lithium, molybdenum, titanium, fluorspar and tungsten.
"Exploration is funded by both the state and business. In the early stages, the budget assumes the risks. He also pays for the search for scarce resources — uranium, titanium, chromium. The main investments are made by companies. This helps to maintain the resource base," the ministry said.
In 2025, 6.2 billion rubles were allocated from the budget for TPI, and 9.5 billion for 2026, the ministry said. For hydrocarbons — about 11 billion in both years. Private investments are higher: 114.5 billion rubles in TPI in 2025 and 136.5 billion in 2026. In hydrocarbons — 307.7 billion and 317 billion, respectively.
The search is complicated by geology and hidden deposits. For example, the share of hard-to-recover reserves has already reached 30% and will continue to grow.
Long money
The most difficult task now remains to find and quickly launch the extraction of rare and technologically complex resources — lithium, uranium, chromium, manganese, tungsten and some rare earth metals. The obstacles are not only related to geology. Many deposits are located in remote areas. They require expensive infrastructure, complex processing, and lengthy approvals. Therefore, the government takes over the initial stages of exploration, reducing risks for business, Pavel Sevostyanov, PhD in Political Science, Associate professor at the Department of Political Analysis and Socio-Psychological Processes at Plekhanov Russian University of Economics, told Izvestia.
Investments in exploration are growing. However, their structure remains problematic.
— The market does not have enough "long" money in the early stages, where the risks are maximum. It is not so much the total amount of investments that is important," the expert noted. — Access to financing remains key at this stage. Additional pressure is created by global demand. It is associated with an energy transition. In 2024, the demand for lithium increased by almost 30%. The growth in nickel, cobalt, graphite and rare earth metals was 6-8%.
According to him, Russia is able to maintain a balance of reserves in terms of basic resources. However, in the segment of scarce raw materials, speed will be the decisive factor. It is important to invest faster in exploration, infrastructure and technology. This is what will make it possible to gain a foothold in new supply chains, Sevostyanov noted.
Geography of exploration
Readily available reserves are gradually running out, explained Vladislav Bukharsky, Associate Director for Sovereign and Regional Ratings at Expert RA agency. Therefore, exploration is shifting to Siberia, the Far East and the Arctic. There is a high potential for discoveries. But the main difficulty is related to the development of lithium, rare earth metals, titanium, tungsten, manganese, chromium and uranium. It takes more than just exploratory work to master them. Recycling technologies, infrastructure, and special investment mechanisms are required.
Russia, for example, is heavily dependent on lithium imports. At the same time, it accounts for more than 7% of the world's reserves. The lack of industrial processing technologies remains a limitation.
— The situation is similar with titan. The reserves are large, but the ores are complex and require high-tech enrichment. In general, the industry is facing a decrease in the content of useful components. The depth of occurrence is increasing. The deposits are far from the infrastructure," Bukharsky emphasized.
The rapid launch of new projects is hampered by high capital intensity and a long payback period, he believes. Complex regulation remains in place. The main players remain large, often near-state companies. It is difficult for small and medium-sized businesses to enter the industry.
The shortage of personnel is also affecting, the expert noted. Licensing procedures remain lengthy. However, the problem is often not a shortage of supplies. Weak infrastructure and a lack of cost-effective recycling technologies are becoming constraints.
In addition, almost all profitable stocks have already been distributed under licenses. This reduces the ability to quickly launch new projects. Additional pressure is created by the high cost of borrowed funds. Due to tight monetary policy, companies are delaying the launch of projects, he added.
Investments in exploration are growing moderately. In 2025, they increased by 5-10% in the Arctic compared to the level of 2024. The total volume of investments reached about 466.6 billion rubles.
— However, the complication of work conditions reduces the effect of these investments. More difficult and remote facilities are being developed," Bukharsky explained. — The mineral content is falling. Therefore, the current pace is not enough to rapidly expand the resource base. It's not just additional investments in exploration that are needed. It is important to develop recycling and infrastructure.
Global demand directly stimulates the search for rare resources. The consumption of such materials is growing rapidly. Demand for lithium and cobalt is expected to increase several times. They are needed for batteries. There is a growing interest in rare earth magnets for electric motors and energy. These trends make exploration more profitable. For Russia, the reduction of import dependence remains an important factor. Sanctions and changes in supply chains reinforce the need for accelerated replenishment of rare metals, Bukharsky added.
Global experience
The most difficult thing today is to find and develop scarce solid minerals. Their list is fixed by government Decree No. 939-r dated April 16, 2024, Igor Sergeev, professor of the Department of Management at the Presidential Academy in St. Petersburg, told Izvestia. These resources are directly important for the technological development of the industry. Their supplies are usually limited. Development requires high-tech capacities and large investments.
— In the early stages of exploration, financing comes from the budget. We are talking about regional research and search and evaluation work. The situation here has improved a bit now. At the stages of development and further exploration, funds are mainly invested by subsurface users. There are positive changes here, too," the expert is sure.
However, production is being held back by weak domestic demand. Export restrictions also have an impact. The reorientation of supplies from Europe to Southeast Asian countries requires time and additional investments, he added.
The global shortage of rare resources increases their search, Igor Sergeev believes. This applies to Russia, the USA and the EU countries. According to the US Geological Survey, Russia has significant reserves: molybdenum — 6.5%, tungsten — 8.5%, rare earth oxides — 4.5%, vanadium — 23.8%, graphite — 4.5%. Geological exploration is also carried out for other types of raw materials.
At the same time, the key task is not just to export resources. It is important to develop our own high-tech processing based on these reserves, the expert emphasized.
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