Exploration work financing to be increased in Yakutia
Maintaining high level of Yakutia balance reserve requires federal funding
Head of Yakitia together with general director of the JSC Rosgeologia Sergey Gorkov discussed the increase of geological exploration works financing at the expense of the federal budget.
“Yakutia has significant mineral potential on a scale of the world, and we must conduct a qualitative assessment of mineral resources in order to maintain a high level of balance reserves,” says the head of the republic. The parties also discussed a decrease of funding of regional, exploration and evaluating work, which affect the development of the mineral resource base of the republic. In addition, Nikolaev and Gorkov discussed the improvement of the regulatory framework in the field of subsoil use and interaction between the company and government.
Rosgeology conducts exploration work at 23 sites in Yakutia, 15 for solid minerals and eight for oil and gas. The company is interested in expanding the exploration of diamonds, gold, silver and other minerals.