Russia, Africa and the Middle East: possible composition of a new proposed TPI site based on the OPEC principle.

Russia, Africa and the Middle East: possible composition of a new proposed TPI site based on the OPEC principle.

Russia proposes to create a platform for coordinating activities in the field of solid mineral extraction (TPI), similar to OPEC oil. The proposal was made by the Minister of Natural Resources and Ecology of Russia, Alexander Kozlov, at the Future Minerals Forum, which is taking place in Saudi Arabia. Besides Russia, participants from Africa and the Middle East are invited to the site.

OPEC was created to help relatively poor and dependent member countries control and influence not only oil prices, but also the global economy and politics in general. Over the past 50 years, she has successfully achieved this goal.  Since 2016, OPEC+ has expanded its cooperation to include Russia.

Taking into account the peculiarities of OPEC, the proposal of the head of the Ministry of Natural Resources of Russia Alexander Kozlov at the industry forum attracted attention.

Anatoly Nikitin, Executive Director of the Association of Mining Industry of Russia, commented on the statement of the head of the Ministry of Natural Resources of Russia:

"The initiative with an advisory platform on the exploration, production and processing of critical types of mineral raw materials is obviously a politically correct move, and with proper organization, it will not only help a number of countries, including Russia, strengthen their positions in the economy, but will generally affect the global agenda. An important condition is what stake we place on the extraction of rare and rare earth metals and the development of the Far East. And this includes attention to geological exploration, infrastructure development, and the appearance of investment maps, which we repeatedly talked about last year.

Nevertheless, on the part of the Association, we must say that the loud theses about the "REM reserve for 100 years", picked up by the media, require clarification already in the field of mining and development, as well as working out the details both at the level of relevant ministries, heads of regions, and from the position of enterprises participating in the market.

This just implies another important message that was voiced in Saudi Arabia — Russia's readiness for the transfer of technology. Thus, the association should have a clear technological basis."

10.01.2024 20:05
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