Russia ready to mobilize geological exploration services worldwide - natural resources minister

ST. PETERSBURG. June 19 (Interfax) - Russia is a global resource leader and stands ready to mobilize geological exploration services to any location worldwide, Natural Resources Minister Alexander Kozlov said during a session on mineral reserves and extraction at the 2025 St. Petersburg International Economic Forum (SPIEF 2025).

"The mineral resource base plays a pivotal role in global economic development. With rapid technological transformation underway, demand for battery metals, conductor metals and materials for hydrogen and solar energy is multiplying exponentially. Mineral consumption will only grow each year. Experts predict rapid growth in copper, graphite, cobalt, and lithium by 2030," Kozlov said.

Russia accounts for 27% of global platinum group metals production, controlling 22% of nickel reserves, 13% of cobalt, 15% of titanium, 12% of tungsten, 9% of copper and 4% of rare earth elements and graphite, he said.

"We aim to establish maximum-length processing chains up to final product output. If we actively cooperate, it would significantly benefit both the development of mining technology and the establishment of soft regulation mechanisms for global markets," he said.

"We're open to securing the following global advantages - pricing optimization for mineral raw resources and its output, logistics improvements, and the development of a joint regulatory framework. Our geological exploration capabilities are so extensive that we're prepared to deploy Russian exploration services anywhere in the world," he said.