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ECONOMY, ORGANIZATION AND MANAGEMENT
ArticleName Investment projects on development of nickel deposits in Russia’s Arctic toward innovative advancement of industry: Current condition and growth prospects
DOI 10.17580/gzh.2025.12.06
ArticleAuthor Tishkov S. V., Kulakov K. A., Koshman O. S.
ArticleAuthorData

Laboratory for Comprehensive Arctic Research, Institute of Economics, Karelian Research Center, Russian Academy of Sciences, Petrozavodsk, Russia
S. V. Tishkov, Academic Secretary, Senior Researcher, Doctor of Economic Sciences, insteco_85@mail.ru
O. S. Koshman, Post-Graduate Student

Petrozavodsk State University, Petrozavodsk, Russia

K. A. Kulakov, Senior Lecturer, Candidate of Physical and Mathematical Sciences, Associate Professor

Abstract

During the research, the data on the current and probable reserves of nickel ore were collected, and different information sources were reviewed, in particular, the sustainable development reports of Norilsk Nickel, the largest corporation to carry out massive Arctic operations. Nickel production in the Arctic zone of Russia steadily grows due to strategic importance of the resource. By expert estimates, the total investment in acquisition of physical assets on the nickel market can be up to USD 2 billion in 2019–2025. According to forecasts, by 2025, nickel production in Russia can grow to 350 Kt and exceed the previous years’ output by 10.7 %. Elaboration of novel managerial and territorial approaches to the arrangement and utilization of productive forces and tools of spatial development in Russia’s Arctic in the varied environment of the present day is a critical constituent in the Norilsk Region. Also, this is a framework for the integrated infrastructural projects, such as nickel ore mining and processing, and further utilization in industry and in production of innovative commodities, as well as for the return on investment at maximized social effect and minimized ecological consequences. This, in turn, is a key to the sustainable social and economic development and national security of Russia. Another problem is the energy efficiency of mining and processing. In the conditions of the power demand and supply fluctuations, it is possible that the cost of mining and processing exceeds the price of nickel in the world. When evaluating investment projects, it is important to weigh up efforts targeted at the increase in energy efficiency.
The study was carried out under the state contract with the Karelian Research Center, Russian Academy of Sciences: Ecological Safety of the Arctic, Topic: FMEN-2024-0013.

keywords Nickel, mineral deposits, mineral reserves and resources, Norilsk Nickel Mining and Metallurgical Company, Arctic zone of the Russian Federation
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