The Government of the Russian Federation has scheduled an important auction aimed at exploration and extraction of strategically important mineral resources. According to the official announcement, the event is planned for 2023, with the main focus on a federal-significance site in the Republic of Tyva.
This site, known as the Tastygskoye deposit, is of strategic importance because it holds extensive reserves of rare metals such as tin, beryllium, lithium, tantalum, and niobium. According to the updated list of strategic mineral raw materials approved by the government, these metals are considered rare and valuable resources of major importance to many industries.
Only companies that hold a license to use the subsurface of the Tyrnyauz tungsten-molybdenum deposit, or their subsidiaries, will be able to apply for the auction. In this way the government seeks to attract enterprises that already have experience and expertise in mining valuable minerals.
The event is a significant milestone in the mining industry and has the potential to attract major players in the mineral resources market. The auction for the right to use the Tastygskoye subsurface site is expected to support active development of rare-metal extraction and processing in Russia, further strengthening the country’s position in the global mining industry.
