Unique potential for rare metals
Murmansk region has a unique potential for production of rare earth metals with 70 percent of Russia’s total deposits.
According to Vice Speaker of the State Duma Valery Yazev, the Kola Peninsula has a great potential to become a world leading producer of rare earth metals:
- There are unique deposits here that could solve the problem of rare earth metals deficiency on the world’s markets, he said at a recent Russian-German forum on raw materials, RIA Novosti reports.
According to Anatoly Vinogradov, member of the Russian Academy of Natural Sciences, Murmansk Oblast holds 70 percent of all rare earth metals in Russia. The best potential has the Khibiny-Lovozero area, where Russia’s largest deposit of loparite is located. Loparite is one of the main raw materials for rare metals and rare earth metals.
