Business programme

Junior Geological Exploration Companies: Development Prospects in Russia

03 Jun , 11:00–12:15
Delivering on National Development Targets
Pavilion G, conference hall G6

A stable materials sector is the foundation of sustainable global economic growth. It is expected that the mining sector will retain its role as the backbone of the global economy and consumption will continue to grow over the next 20 to 25 years. The green economy has emerged as a new driver of materials sector development. Green economy trends such as decarbonization, the development of renewable energy and energy storage technologies, clean transport, and hydrogen fuel have led to growing demand for primary metals and materials, significantly altering traditional materials consumption patterns and generating demand for new metals and materials. The Russian economy has an obvious competitive advantage in the form of its wide and diverse mineral-resource base. The mining sector is the foundation of the Russian economy and makes up 12% of the GDP, without taking into account its effect on the secondary sector. Russia and the rest of the world are now facing the issue of dwindling reserves in their largest and most economically viable deposits. In leading countries, the problem of dwindling commodity reserves is solved in party by attracting private funding to geologic exploration by way of junior geological exploration companies. They take on up to 40% of the cost and attract billions of dollars to the industry. Russia has enormous geological exploration potential and is in a stage of transition. The Strategy for the Development of the Mineral Resources Base of the Russian Federation until 2035 foresees the gradual reduction of government spending and increase of private investment in geological exploration. What does Russia need to realize this potential and remain competitive in a changing world? What steps must be taken so that businesses can smoothly replace the government in the early stages of geological exploration? How can restrictions be lifted to attract private capital to geological exploration?

Sergey Gorkov, General Director, Chairman of the Management Board, Rosgeo

Kairat Kelimbetov, Governor, Astana International Financial Center
Aleksandr Kirevnin, Director of Department of Financial and Banking Activity and Investment Development, Ministry of Economic Development of the Russian Federation
Oleg Novachuk, Chairman of the Board of Directors, GDK Baimskaya
Sergey Nosov, Governor of Magadan Region
Sergey Ryzhov, Chairman, Seligdar
Alexey Chekunkov, Minister of the Russian Federation for the Development of the Far East and the Arctic

Front row participants
Georgiy Belozerov, Deputy General Director, Network Director, Agency for Strategic Inintiatives
Alexander Borodich, Founder, Universa Blockchain Platform
Mikhail Damrin, Chief Executive Officer, Kopy Goldfields AB
Sergey Zhuravlev, Vice President of Government Relations, Polyus
Roman Kopin, Governor of Chukotka Autonomous Area