The Russian Ministry of Natural Resources predicts a significant increase in investment in geological exploration rare earth metals (REM). In 2025, the volume of investments will increase to 200 million rubles, which will be four times higher than in 2024. This will allow the country to strengthen its position in the global market and become one of the top five in REM mining.
According to the ministry, in 2025, production of 2.2–2.6 thousand tons of rare earth metals in terms of oxides is expected. Production of rare earth products will be 1.8–2.3 thousand tons. The main contribution to these indicators is made by the Solikamsk magnesium plant, which works with Lovozersky raw materials deposits in the Murmansk region.
Separation production at the Solikamsk plant will be a key stage in the development of the industry. Thanks to this project, Russia will be able to reduce its dependence on imports and meet the domestic needs of industry.
Since 2018, the state has not financed exploration of rare earth metals, since the existing resource base is sufficient for current needs. All work is carried out at the expense of subsoil users. However, the government supports the industry through tax incentives.
The Ministry of Industry and Trade has reduced the mineral extraction tax for new projects for the extraction of rare earth metals:
- Up to 1.68% – for rare earth metal projects.
- Up to 0.48% – for projects on strategic metals.
Residents of the Arctic zone, priority development areas and regional investment projects will also receive mineral extraction tax benefits until 2032.
By 2030, Russia plans to create a full cycle of processing rare earth metals and significantly increase their production. This will not only provide the domestic market, but also reach the international level.
The total volume of investments in geological exploration of solid minerals in 2025 will amount to 132.6 billion rubles, which is 40% more than in 2024. The plans include the development of new deposits and the modernization of existing production facilities.
Increased investment and government support will help Russia take a leading position in the rare earth metals industry, which will open up new opportunities for the economy and industry.
The material was prepared with the support of the Russian Ministry of Education and Science as part of the Decade of Science and Technology
Source: @dprom
