Planned auction for Yakutian land, involving volfram, set for 2025.
Russia rules the roost in Tungsten
Hey there! Let's dive into the genius of Russia's tungsten reserves. With a whopping third place in the world's tungsten reserves, it's no surprise that people are talking about it.
Russia's tungsten stash spans across 95 deposits, with close to half of them bursting with big tungsten juju. The heavyweight champ is the Tyrnyauz deposit in Kabardino-Balkaria, followed by the Inkurskoye and Malo-Oyngorskoye deposits in Buryatia, Koklanovskoye in the Kurgan region, and the Hidden deposit in Primorye. Together, these babies hold over 794 thousand tons of tungsten oxide. At the present mining rate, Russia can proudly boast a tungsten self-sufficiency of over a century!
Why all the fuss about tungsten? Well, this tough stuff makes some of the strongest and most resilient alloys out there. These alloys can stand up to extreme temps and high mechanical loads, making them a must-have in industries like medicine.
Mining's going down at seven deposits: Vostok-2 and Forgotten in Primorye, Pravourmiyskoe and Festivalnoe in the Khabarovsk Territory, Tirekhtakh in Yakutia, Inkursk and Baryun-Narynskoye in Buryatia. In 2023, we mined a hefty 3.83 thousand tons.
The Belukhinskoye, Lenota, Tendergin on Chukotka, and Odyokoe deposits in Yakutia are set for auctions in 2025. Both the Russian government and private businesses are pouring more cash into tungsten exploration, with 436.1 million rubles from private investors and 216.1 million from the government in 2023. The numbers are expected to soar in 2024, with a planned 718.3 million from private investors and 264 million from the government.
Though data on tungsten exploration investments in Russia from 2022 to 2024 is still scarce, one can infer from recent global trends and Russia's strategic focus on minerals that investments are on the rise. With increasing demand for critical minerals like tungsten in sectors like technology and defense, Russia's position as a major tungsten producer gives it a strategic edge in the global market. So keep your eyes peeled for more exciting developments in Russia's tungsten scene!
- Categories:
- Mining in Yakutia
- Tungsten mining
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With Russia boasting an impressive tungsten self-sufficiency of over a century, it becomes an attractive destination for finance and investing in the mining industry. The strategic position of Russia as a major tungsten producer, coupled with the increasing demand for tungsten in sectors like technology and defense, offers lucrative opportunities for financial investment.
