Economic prospects for the development of coking coal in the arctic regions of Russia.

Abstract

The Arctic regions of Russia are among the richest in the composition of both rare earth elements and fuel and energy resources, which are of great interest to the country’s economy. Coal has grown significantly in price in recent years and the demand for this raw material is growing annually. Moreover, many countries adhering to the carbon-neutral agenda and abandoning the coal industry have begun to return to this source of raw materials. The purpose of this work is to identify and study the economic prospects for the development of coking coal in the Arctic regions of Russia, as well as to analyze the potential for the implementation of logistics routes through the Northern Sea Route. The possibilities of selling coking coal are actively increasing in the East Asian region, where heavy industry is developing, and this type of coal is relevant and in demand for its properties and qualities. Russia competes for these markets, so strengthening the export base with Arctic deposits that have direct access to the Northern Sea Route is a competitive advantage. The scientific base of the work consists of Russian government sources, statistical databases, expert opinions and assessments, as well as a practical base for the development of potential and existing deposits.