African Mineral Resources Can be Attractive for Russian Business, Russian Export Center Says
14:22 13.11.2024 (Updated: 14:32 13.11.2024)
© AP Photo / SCHALK VAN ZUYDAM
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According to the UN Environment Program, Africa has 40% of the world's gold, as well as the largest reserves of cobalt, diamonds, platinum, and uranium. Besides, approximately 30% of the world's mineral reserves are situated on the continent.
Russia intends to develop the activity of Russian geological exploration and production companies in Africa, Nikita Gusakov, Senior Vice President of the Russian Export Center, said on the sidelines of the first Russia-Africa ministerial conference in Russia's Sirius Federal Territory that was held on November 9-10.
"The continent’s mineral resources are capable of providing payback of investment and the creation of a large-scale presence infrastructure, including our manufacturing business," Gusakov said.
He added that Africa is very rich in the mineral resources necessary for the development of an innovative economy, but is not yet able to fully use these resources for development.
Earlier, the head of Russia's state nuclear corporation, Rosatom, Alexey Likhachev, said that the corporation is negotiating with several African countries on access to lithium and uranium deposits. He added that Rosatom is fully independent of imports, and external challenges related to technologies and equipment have not impacted its projects.
