The company Russian Mineral Resources plans to start up geological exploration next month at the Pizhemskoe titanium field in the Komi Republic. The field is believed to be among the biggest titanium fields in Russia.
Russian Mineral Resources has secured a 25 year production licence to the field, RIA Novosti reports with reference to regional governor Vladimir Torlopov. The planned production site covers a 6,000 square kilometre region. However, the regional Ministry of Natural Resources do not exclude that the area might be extended to as much as 25,000 square kilometres.The project will create 1500 new jobs. The field development will require an investment of up to $US1billion.
Source: Barents Observer
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