The Republic of Komi is a storehouse of natural resources, with mineral resources being at the top.
The fields explored on the republican territory contain about 80% of quartz fibers, 50% of titanium, 30% of bauxites, 13% of barites, 4.5% of coal, and 3% of oil.
The Timan-Pechora Oil and Gas Province is one of the largest in Russia in terms of hydrocarbon potential. Much of it lies within the administrative borders of the Republic of Komi.
The Republic localizes 50.1% (4,167.5 mln tons of standard fuel) of the initial aggregate resources across the Timan-Pechora Province, including 2,180.9 million tons of oil (44.4% of the stocks in the province), free gas – 1,673.3 bln m3 (59.3%).
There have been discovered in the Republic 188 hydrocarbon deposits, including 118 of oil fields, 3 – oil and gas fields, 8 – oil-gas condensate fields, 39 – gas fields and 14 – gas-condensate fields.
The Pechora coal mining basin takes the second place in Russia in terms of stock and contains the entire spectrum of coal. It allocates 30 fields and coal-bearing areas with the total geological resources of 341 bln tons. That said, 11 coal fields deposits containing over 7 bln tons of economic reserves of coal are being developed. 4 fields are exploited. Since the start of development of the basin fields (1930s) there has been extracted about 1.3 bln tons of coal.
Titanium reserves are concentrated in Yarega and Pizhma fields. The Yarega Oil Titanium Field located in Ukhta District contains around 50% of the Russian titanium reserves. The construction project for Yarega Mining and Chemical Mill implemented by LLC Yarega Ore is important for the future of Russia. The project aims at mining and dressing of oil titanium ore in Yarega Oil Titanium Field. It is expected to build a mining and chemical mill with the capacity of 650,000 tons of ore per annum, to organize dressing to obtain final economic products, including titanium dioxide pigments that are scarce products in Russia.
The Republic of Komi is the largest and the most perspective bauxite basis in Russia. There are 2 bauxite areas in the Republic – Mid-Timan and South-Timan. The largest field is Vezhayu-Vorykvinskoye where Mid-Timan bauxite Pit is developing. It provides enterprises from Ural and North-West of Russia with raw materials.
The oil shale reserves in Komi are concentrated in two basins: Timan-Pechora Basin and Vychegda Basin. The reserves in the Chim-Loptyug Field located in Udora District are estimated at over 900 mln tons. Oil shale can be used virtually in any known area of application: both as fuel and process raw material, production of resin, drugs or micronutrients, etc. Peat reserves located in numerous fields are also related to solid fossil fuels.
The Republic of Komi has 5 raw quartz fields containing about 80% of the Russian stockpiles of vein quartz. The largest and only developed is the Zhelannoye Field located in the Polar Urals. The field is developed by CJSC Kozhim RDP. At the present time, the company undertakes vein quartz enrichment in order to obtain high-purity quartz concentrate that meets the world standards as well as raw material for the production of ultra-pure silicon.
The forecast barite ore resources in the Polar Urals in the Hoylin Barite Ore Field are estimated at 30% of all known reserves of barite in the Russian Federation and 14% of the stocks that are concentrated in Western Europe. The Republic has the necessary conditions to construct a concentration mill for barite concentrate production.
Complex non-metallic minerals are represented by large deposits of mineral-building materials (plaster, glass sands, construction and facing stones, cement raw materials, sand and gravel materials, sand, clay, mineral pigments, etc.).
The raw material base of manganese ore with the economic reserves of 30 mln tons is represented by Parnokskoye Ferromanganese Field located on the western slope of the Polar Urals. The field is developed by Inta branch of OJSC " Chelyabinsk Electric Works" (Manganese of Komi).
The Republic of Komi also has the reserves of gold ore and CJSC Gold Minerals plans to start its development (Chudnoye Field in the Polar Urals).
The Republic has a rare combination of crystalline and raw gem fields (Polar Urals jade, jadeite, colored chalcedony, Polar Urals rhodonite, rock crystal, amethyst and citrine) suitable for the local production of jewelry and souvenirs.
The fields and occurrences of rare metals (niobium, tantalum, molybdenum, and tungsten), scattered metals (gallium, scandium), and rare earth metals (cerium and yttrium groups) have been identified in the Timan and the Polar Urals areas. The booked reserves have been accounted for only for niobium, tantalum and rare earth metals.
At the Financial and Economic Forum of the CIS and Europe in Prague Sergey Gaplikov held a range of negotiations on future cooperation
The Republic of Komi extends its cooperation with the largest financial institutions of Russia and foreign countries
Sergey Gaplikov invited foreign investors to participate in the implementation of attractive projects in the the Republic of Komi