Mining the Arctic for its Mineral Riches

Mining the Arctic

After the Ice: Mineral Riches of the Arctic

Receding Arctic ice is unlocking fathomless mineral resources — if you don’t mind frost and cost.

 90 billion barrels — is the estimated size of undiscovered oil deposits beyond the Arctic Circle.[i]

That’s equivalent to:

  • 5.9% of world’s known oil reserves
  • 110% of Russia’s reserves
  • 1,677% of Norway’s known reserves
  • 339% of known U.S. reserves
  • 52% of Canada’s known reserves.[ii]

1,669 trillion cubic feet  – the estimated size of natural gas resources

44 billion barrels — the volume of gas liquids[iii]

That’s equivalent to:

  • 24.3% of the world’s known gas reserves
  • 99% of Russia’s known reserves
  •  2,354% of Norway’s reserves
  •  500% of U.S. reserves
  • 2,736% of Canada’s reserves.[iv]

 

84% of hydrocarbon resources lie offshore.[v]

 

 Minerals beyond the Arctic Circle[vi]

Russia (Arctic Siberia):

apatite, ceramic raw materials, coal, cobalt, copper, diamonds, gold, gypsum, iron ores, mica, molybdenum, nickel, palladium, platinum, silver, precious stones, rare metals, tin, titanium, zinc

+ fossil ivory (mammoth tusks from melting permafrost)

$1.5-2 trillion — the estimated value of Russian mineral reserves

U.S. (Alaska):

67 million tons of zinc

67.6 million tons ….Read more