The government of the Arkhangel’sk region has directed companies working in the northern Russian province to concentrate their efforts on developing diamond production, as well as the innovative processing of basalt and peat. The Arkhangel’sk region has the largest deposits of basalt from among all of Russia’s northwestern regions, and its reserves of peat are considerable.

The regional government made promises to help companies working in the sectors of deep mineral processing, especially for basalt and peat. Favorable tax treatment will be extended to businesses that would venture into one of the three priority industrial segments.