MOSCOW, October 27. /TASS/. Approximately one-third of the world's natural resources are located in Africa, and the bulk of this potential remains untapped, the Russian Natural Resources Ministry told TASS ahead of the third Russia-Africa Summit.
"Soviet and later Russian geologists have made a significant contribution to the geological exploration of the African continent. According to current estimates, about one-third of the world's natural resources are concentrated in Africa, yet a substantial portion of this potential has yet to be realized," the ministry said.
In particular, African nations possess significant reserves of rare-earth metals, lithium, gold, and other highly sought-after minerals, the ministry emphasized.
"At the same time, the level of geological exploration varies considerably depending on the country and region," the ministry added.
The third Russia-Africa Summit will take place in Moscow on October 28-29. Earlier, Russian Foreign Ministry spokesperson Maria Zakharova announced that the summit's plenary session, featuring Russian President Vladimir Putin, is scheduled for October 29. The diplomat also noted that a substantial package of intergovernmental agreements and commercial contracts is expected to be signed on the sidelines of the event.