Pilot project to utilize raw materials containing precious metals scheduled for 2026 in Russia

MOSCOW. Sept 22 (Interfax) - Russia is to implement a pilot project to put raw materials containing precious metals into circulation in 2026, according to a decree signed by the president and published online on the official legal information portal.

The project will involve ores and concentrates of non-ferrous metals with precious metals in them, precious metal ores and concentrates, waste and scrap.

The decree states that the Almazny Mir company will run the project. For the pilot project, it will purchase raw materials with 15% deducted from the cost of the chemically pure precious metals contained in them.

According to company publications from late 2023, the controlling shareholder of JSC Almazny Mir is the Russian Federal Property Management Agency (Rosimuschestvo) with a 52% stake. The second largest shareholder is Alrosa with a 47% stake.

"Over the past few decades, industrial and mining enterprises have accumulated millions of tonnes of waste. Of course, this is damaging to the environment and causes problems for people, too," Russian President Vladimir Putin said at a plenary session of the St. Petersburg International Economic Forum (SPIEF 2025). "I propose that we think about launching special projects to extract valuable components from these waste materials. We have the right technology, and we need to use it. In this way, businesses will be able to make profits and help clear environmental damage while catalyzing the development of Russian science and industry, helping the environment to recover."