Sources of minerals and raw materials remain a key driver of the Arctic region's development, Russian Minister of Natural Resources and Environment Sergei Donskoi said at a business session held as part of the Arctic Days in Moscow forum.   

More than 700 oil and gas fields have been discovered in the Arctic, plus unique deposits of non-ferrous metals, non-metallic minerals, rare-earth and precious metals, and precious stones, including more than 350 gold deposits, the minister said.

According to joint estimates of Russian and international experts, the Arctic shelf holds up to 30 percent of the world's untapped resources of hydrocarbons.