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Reuters

Russia is planning investment of US$1.5 billion in rare earth minerals, critical to the defence, telecommunications and renewable energy sectors, as it strives to become the biggest producer after China by 2030, a top government official said.
Russia’s initiative is in line with other countries, such as the United States, which are also trying to curb their reliance on China, home to 63 per cent of global rare earths production and 37 per cent of global reserves.
China’s dominance is so established, it is hard to weaken.
Russia has reserves of 12 million tonnes, or 10 per cent of the global total, and the government is willing to back any foreign investment.
Covid-19 slows US’ electric vehicle minerals, rare earths push
Alexei Besprozvannykh, Russia’s deputy industry and trade minister, said Russia was offering reduced mining taxes and cheaper loans to investors in a list of 11 projects designed to increase Russia’s share of global rare earths output to 10 per cent by 2030 from 1.3 per cent now.
The Russian projects will require at least US$1.5 billion in investment, he said.
China will keep its market dominance, but Russia’s “goal is to be at least the second after them by 2030”, Besprozvannykh said.
Malaysia signs rare earths deal with miner Lynas
So far, rare earth processing is almost totally controlled by China, with the exception a plant in Malaysia, operated by Australia’s Lynas Corp, and the US is reviving production.
The 11 projects, which include developing the Tomtor deposit in Russia’s far east, will allow Russia to become almost self-sufficient in rare earth elements by 2025 and start exports in 2026, the deputy minister said.
By 2024, Russia’s production of rare earths concentrate may reach 7,000 tonnes a year, he added. The US Geological Survey estimated Russia’s 2019 production at 2,700 tonnes.



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Russia

Russia eyes US$1.5 billion plan to rival China’s dominance in rare earths

So far, rare earths processing is almost totally controlled by China, with the exception a plant in Malaysia operated by Australia’s Lynas Corp. Photo: Reuters

Australia’s Lynas to design Texas rare earths factory as US seeks to reduce reliance on China

Lynas is the biggest producer of rare earths outside China. Photo: Reuters

A Lynas Corp worker walks past sacks of rare earth concentrate waiting to be shipped to Malaysia, at Mount Weld, northeast of Perth, Australia August 23, 2019. Picture taken August 23. REUTERS/Melanie Burton

Covid-19 outbreak slows US push to produce electric vehicle minerals, rare earths

A Tesla Motors factory in Fremont, California. The Covid-19 pandemic is just the latest headache for the lithium industry, with prices down 37 per cent in the past year due to oversupply concerns. Photo: Reuters

China’s move to raise rare earth production to weigh on global prices, deal blow to projects in US, Australia

A Lynas Corp worker walks past sacks of rare earth concentrate at Mount Weld, northeast of Perth, Australia. Photo: Reuters

FILE PHOTO: Heavy mining equipment haul ore at the Mountain Pass Rare Earth facility in Mountain Pass, California, June 29, 2015. The facility is the only rare earths mine in the United States, though it must ship material to China for processing as there are no such facilities in the country. REUTERS/David Becker/File Photo

Malaysia signs new rare earths deal with Australian miner Lynas despite environmental fears

A worker inside the compound of the Lynas plant in Kuantan. Photo: Reuters

Jars containing rare earth minerals produced by Australia's Lynas Corp from its Mount Weld operations are seen near Laverton, northeast of Perth, Australia, August 23, 2019. Picture taken August 23, 2019. REUTERS/Melanie Burton

FILE PHOTO: A general view of the Lynas Advanced Materials Plant in Gebeng, Pahang, Malaysia, July 23, 2019. REUTERS/Lim Huey Teng/File Photo

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World

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So far, rare earth processing is almost totally controlled by China, with the exception a plant in Malaysia, operated by Australia’s Lynas Corp
Russia’s initiative is in line with other countries, including the United States, which are also trying to curb their reliance on China



Russia’s initiative is in line with other countries which are also trying to curb their reliance on China.


Rare earths

US-China relations

Trade

Defence

Russia eyes US$1.5 billion plan to rival China’s dominance in rare earths

So far, rare earth processing is almost totally controlled by China, with the exception a plant in Malaysia, operated by Australia’s Lynas Corp Russia’s initiative is in line with other countries, including the United States, which are also trying to curb their reliance on China

So far, rare earth processing is almost totally controlled by China, with the exception a plant in Malaysia, operated by Australia’s Lynas Corp

Russia’s initiative is in line with other countries, including the United States, which are also trying to curb their reliance on China