Resumen de Russia's plans for world rare earths domination
Since the collapse of the USSR in 1990 and the number of political and economic crises in the country, the production of rare earths in Russia has almost stopped, while Russia became a net importer of them. Since the beginning of the millennium, the situation in the industry has started to improve, which has resulted in the resumption of production of rare earths in Russia.
He also added that Russia has perfect conditions for the development of rare earths production, taking into account that Russia currently remains the world's second largest country in terms of rare earths reserves, which are estimated at 19m tonnes (17% of the global market). Overall it has at least 14 discovered rare earths fields, the majority of which are located in the northern regions of the country, and in particular the Kola Peninsula, Krasnoyarsk region and Murmansk.
According to the Ministry, Russia currently accounts for about 2% of the world's production of rare earths and without the implementation of new projects the country's share in the rare earths world output of rare earths will fall below 1.5% in the coming years.
