Rare earth metals in Russia

Main article: Metallurgy in Russia

2023: Consumption of rare earth metals in Russia for the year increased to 1.42 thousand tons

The consumption of rare earth metals (REM) in Russia in 2023 increased to 1.42 thousand tons. This became known in August 2024. This indicator, according to the Ministry of Industry and Trade of the Russian Federation, is part of a long-term strategy aimed at increasing the use and production of rare earth metals in the country. Consumption growth continues amid efforts to reduce dependence on imports and develop domestic production.

Russia plans to double its domestic consumption of REM by 2030 - up to 3 thousand tons. The main areas of use of rare earth metals are the oil and gas industry, renewable energy sources, the glass industry and optics. In 2023, 830 tons of REM were spent on oil and gas processing, including elements such as lanthanum, cerium and itrium. Another 200 tons went to the needs of renewable energy sources (RES), where samarium and neodymium are in demand. The glass industry and optics used 100 tons of rare earth metals such as lanthanum, cerium and ytterbium.

Freepik

Despite the vast reserves of rare earth metals, which make Russia the second largest in the world in reserves, production of these resources in the country remains relatively weak, according to the Ministry of Industry and Trade. In 2023, it accounted for only 2% of global production. However, the development of this industry is a priority for the government, and by 2030 Russia plans to fully provide itself with rare earth metals, increasing production to 7.5 thousand tons per year.

With the growth of domestic demand in Russia, measures are also being taken to reduce dependence on imports. Currently, about 90% of rare earth metals required for domestic enterprises are imported from abroad. However, Rosatom, which implements projects in this area, predicts that by 2025 this dependence could be reduced to 50%. It is also expected that the volume of production of rare earth metals in Russia will grow to 2.7 thousand tons in 2025.^[1]

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