Russia aims to reach rare earth metals production of 3,000 tons by 2030

By 2030, Russia plans to achieve a rare earth metals production volume of 3,000 tons, which will fully meet the country’s domestic demand for these strategically critical resources. This was reported by “TASS”, citing Konstantin Fedorov, Deputy Director of the Metallurgy and Materials Department at the Ministry of Industry and Trade.

According to Fedorov, the projected production volume by 2030 will entirely cover the anticipated needs of the Russian economy. Currently, Russia is forced to import around 1,500 tons of rare earth metals, while domestic production in 2024 amounted to just 50 tons.

The deputy director also noted that by 2030, Russia’s reliance on rare earth metals imports should decrease to 48% from the current level of over 90%. A federal project for industry development includes state support totaling approximately 60 billion rubles.

Additionally, by 2030, Russia aims not only to meet domestic demand but also to significantly exceed it for several rare metals like: zirconium: production is projected at 16,000 tons against a demand of 12,500 tons, lithium: production is expected to reach 20,000 tons versus 8,000 tons of demand, tungsten: production is forecast at 5,550 tons compared to 3,000 tons of demand.