Putin touts huge undiscovered resources in Russia’s Far East

Most of Russia’s Far East has never been prospected for resources, providing the country’s mining industry an excellent opportunity for significant growth, President Vladimir Putin stated on Tuesday.

During his address at the plenary session of the Eastern Economic Forum in Vladivostok, Putin elaborated that this could ensure Russia's resource sovereignty and establish a foundation for developing new materials, microelectronics, and promising energy sources. He emphasized that it has the potential to foster the growth of domestic environmentally-friendly technologies, nature conservation efforts, scientific advancements, and the creation of high-quality job opportunities.

“The percentage of subsoil exploration in the Far East is, on average, only 35%. Do you understand? Only 35% of the subsoil has been studied. This suggests that there is every opportunity for tremendous growth in the extractive industries, including scarce, strategic types of raw materials that are in demand in the economy of the future,” Putin stressed.

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