Key Russian Firm that Identified Major Mineral Reserves in Arctic Shuts Down

Paul Goble

            Staunton, Feb. 4 – Despite Vladimir Putin’s push for Arctic development, the Russian Polar Marine Geosurvey Expedition company which pioneered in the location of mineral resources in the polar region has shut down because of massive debts it sees no possibility of paying off.

            That leaves Moscow without that company’s skills, honed over more than two decades of exploration, highlights how the shift of resources for the war in Ukraine is hurting priorities elsewhere and the importance of tracking what Moscow is actually doing rather than just what it claims (fontanka.ru/2026/02/04/76246717/ and thebarentsobserver.com/news/russias-renowned-polar-geological-company-is-closing-its-doors/444728).

            The company announced on its portal that it will close down completely on February 12, a declaration that was met with incredulity and even anger by those familiar with what the company has done and what its absence will likely mean (vk.com/al_feed.php?w=wall-1247763_971960).

            And another asked bitterly but obviously rhetorically "How is it possible to close a company that has no equivalent anywhere in the world at a time when the president has set a course for the exploration and development of the Arctic and the Antarctic?”