The Arctic’s resource composition, production challenges and prospects

The relevance of this paper stems from the fact that the Arctic has a significant mineral composition and not all of them are mined, although the potential of the deposits is very high, which is of interest to study. The purpose of this study was to understand the reason that prevents reaching large mining capacities.

The following objectives were set:

• examine the mined minerals in each Arctic Zone of the Russian Federation (AZRF);
• examine the difficulties that prevent mining operations from starting in the short term;
• identify the prospects for the development of the extractive

In the process of writing the article a large amount of scientific and statistical information was analysed on the state of utilization of the mineral resource base of each subject, as well as investment portals, which together gave an insight into the direction of development of the regions and their plans for the future. Work was also carried out to search for programs aimed at introducing new technologies to solve existing difficulties that are hindering the increment of capacity. Based on the results of the work, it was concluded that the ASRF has a significant raw material potential, which is still in the bowels, and the third track of the Arctic Startup Expedition, within which innovative ideas are transmitted aimed at optimizing complex processes, as well as many other important and necessary projects, capable of significantly influencing the current situation and boost the regions’ economic performance.

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