The natural resources of the Arctic are the mineral and animal resources
within the Arctic Circle that can provide utility or economic benefit
to humans. The mineral resources include major reserves of oil and natural gas,
large quantities of minerals including iron ore, copper, nickle, zinc
phosphates and diamonds. Living resources of the Arctic are primarily
the abundant fisheries.
Arctic Oil & Gas
With declining prices, high risks,
and disappointing exploratory results, only a few oil
and gas companies remain interested in the Arctic, while
production in the region remains steady at best, and
except for Russia, may be in decline for the near future.
Mineral Resources, while abundant
in the Arctic regions need infrastructure to increase
sites and production. Currently generating impressive
revenues, mining practices often threaten the fragile
Arctic environment. The most popular minerals include
coal, iron ore, zinc, lead, nickel, precious metals,
diamonds and gemstones.
Arctic Aggregates Production
Rock, stone, sand and gravel are
mined throughout the Arctic region for a variety of
construction projects onshore and off. As development
increases, production of these resources will probably
increase as well.