KALININGRAD, September 24. /TASS/. The cost of explored mineral resources alone in the Arctic region is estimated at more than $20 trillion, Russian Minister of Far East and Arctic Development Alexey Chekunkov said.

"The cost of explored mineral resources in the Arctic alone is over $20 trillion. At the same time, according to the estimate of subsurface users, the exploration maturity is not above 20%. If these data are extrapolated, then the Russian Arctic capitalization will amount to at least $100 trillion," the minister said.

The Arctic occupies a special place in terms of the whole range of mineral resources. It accounts for 100% of nickel and rare-earth metals mining, 99% of platinum group metals and raw phosphates extraction, and 85% of natural gas production.