Russia is stepping up efforts to build its domestic rare earth industry. First Deputy Prime Minister Denis Manturov announced that the Solikamsk Magnesium Plant will begin producing rare and rare earth metal oxides by 2028. The government plans to invest approximately RUB 400 billion in the sector by the end of the decade.
Manturov made the announcement as part of Russia’s broader strategy to achieve technological sovereignty. According to him, expanding the production of high-value-added rare and rare earth materials is a key priority. The objective is to establish a fully integrated supply chain—from mineral extraction and processing to finished products used by high-tech industries.
For the Solikamsk Magnesium Plant, a member of the Russian Miners Association, the project represents a major technological upgrade. The facility will move beyond producing primary raw materials to manufacturing rare earth oxides, which are essential for electronics, optics, permanent magnets, and defense applications.
The RUB 400 billion investment program through 2030 extends beyond the modernization of the Solikamsk facility. It also includes the development of related stages across the domestic rare earth value chain. For Russia’s mining sector, the initiative is expected to strengthen the country’s mineral resource base, improve the efficiency of resource development, and provide strategic industries with domestically produced raw materials instead of imports.
The Solikamsk Magnesium Plant is expected to become the flagship of Russia’s rare earth strategy. By 2028, it is scheduled to produce the country’s first domestically manufactured rare earth oxides—materials that are in high demand among manufacturers of electronics, optical equipment, permanent magnets, and defense technologies.
Source: @gorprom
Image: Vitaly Timkiv / RIA Novosti
