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Meeting with Industry and Trade Minister Denis Manturov

October 18, 2013

Vladimir Putin discussed resource supplies for high-tech sectors with Industry and Trade Minister Denis Manturov.

The President noted that rare metals production is an issue requiring particular attention.

Mr Manturov said that over the next three years production will be developed to supply rare metals for high-tech sectors such as aircraft manufacturing, space, nuclear energy and radio electronics. By 2020, Russia will be fully self-reliant in this area.

In particular, there are plans to develop the large Tomtor rare metals deposit in Sakha (Yakutia). Mr Manturov said that technical studies will begin at the site in 2014, and development will get underway there in 2015.

Over the period through to 2020, 145 billion rubles [over $4.5 billion] will be invested in the development programme, of which 23.5 billion will come from budget funds. A production chain will be established that covers every stage from mining the ore to producing the concentrates and metal oxides needed for use in finished products. The budget will invest 9 billion roubles in this programme’s first stage over the next three years.

October 18, 2013