MURMANSK, April 23. /TASS/. The Murmansk Region's authorities expect the projects to extract and process lithium, perovskite-titanomagnetite ores and other rare earth metals will create the basis for full-cycle production facilities, the region's Ministry for Arctic Development and Economy said commenting on the speech Russian President Vladimir Putin delivered at the International Arctic Forum.

The Murmansk Region has intensified exploration under investment projects to discover new deposits and create new production facilities. Exploration has been completed in the Lovozersky District at the largest lithium deposit, Kolmozersky, and exploration of the Polmostundrovskoye field is underway. Geological exploration of rare earth metals in the Lovozersk District and perovskite-titanomagnetite ores in the Afrikanda massif continues.

"The implementation of these projects will lay the foundation for a full production cycle in the Murmansk Region," the ministry's representative said. "Thus, we will localize production in the region as much as possible, creating added value at every stage - from extraction of raw materials to production. Such projects comply with the president's instructions on deep processing in the Arctic, and they also open up new prospects for the region's economic development and the country's technological independence."

The implementation of such large-scale projects in the region demonstrates an integrated approach to the development of Arctic resources that combines the extraction of raw materials with the creation of high-tech industries. The Murmansk Region focuses on expanding the resource base and implementing unique Arctic projects, including stimulating geological exploration, since reserves of rare earth and rare metals may be increased through modern geological works.

At the International Arctic Forum in Murmansk, President Vladimir Putin said that Russia would continue large-scale geological exploration in the Arctic. The goal is to use a powerful resource base to open in the Arctic enterprises for deep processing of raw materials, preserving at the same time the unique Arctic nature, and to create high-value-added industries in oil and gas chemistry, and in the rare earth metals sector.