The Ministry of Industry and Trade announced large-scale plans to increase production and processing of rare earth metals (REM) in Russia. By 2030, the country expects to reduce its dependence on imports from 75% to 45%, and production volumes will increase sevenfold.
The basis for growth will be the largest deposits:
- Lovozerskoe (Murmansk region) is the only enterprise in Russia for the extraction of loparite, which is processed into tantalum, niobium and titanium.
- Tomtorskoye (Yakutia) is one of the richest deposits of rare earth elements, including niobium. A subsidiary of Rosneft received a license for its development.
- Kolmozerskoe lithium deposit, where Rosatom and Norilsk Nickel operate.
To stimulate the industry, the Ministry of Industry and Trade and the Ministry of Finance are developing a system of tax incentives. This will attract investors and accelerate the introduction of new technologies
Russia now purchases three quarters of rare earths abroad metals. However, within six years the share of imports should be reduced to 45%. This will be possible thanks to:
- Increasing production to 50 thousand tons per year;
- Expansion of processing capacities (for example, the Solikamsk magnesium plant produces up to 2.5 thousand tons of products annually);
- Development of new deposits.
According to the Ministry of Natural Resources, reserves of rare earth metals in Russia exceed 28 million tons, and the total reserves of rare metals are 658 million tons. This will allow not only to meet domestic needs, but also to enter the world market.
While China controls 70% of world production, Russia can take a significant share thanks to its resources and government support.
Plans for a sevenfold increase in the production of rare earth metals open up new opportunities for the economy. Reducing dependence on imports, technology development and export potential will make Russia a key player in this market.
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
Photo: pronedra.ru
