More riches found in Siberia

The Nenets Autonomous District of Russia has a wealth of minerals waiting to be uncovered, Russian geologists say. Recently they reported on the wide range of rich mineral deposits discovered in that region of Siberia.

According to the researchers’ estimates, just one per cent of the mineral resources in the Nenets District would have a value of US $500 billion. The region also has some of the world’s largest oil and gas reserves, but its economy is undeveloped and the climate is relatively harsh. In January, average temperatures range from -12 ° C to -22 ° C. In July, the average temperatures range from 6 ° C to 13 ° C. Most of the district’s land is permafrost.