India-Russia Collaboration in Critical Minerals and Rare Earths
India and Russia are enhancing their cooperation in the domain of critical minerals and rare earth elements (REEs), which are essential for modern technology and the green energy transition. This pursuit was a key agenda at the recent India-Russia Annual Summit.
Key Agreements and Developments
- Both nations have agreed to boost trade and deepen cooperation in the exploration, processing, and refining of critical minerals.
- Andrey Goliney, director of the Giredmet Institute, highlighted that Indian and Russian investments in the sector could reach hundreds of millions of dollars due to growing interest in industries like electric mobility and wind energy.
- Prime Minister Narendra Modi emphasized the importance of critical mineral partnerships during the summit.
Russia's Rare Earth Elements Reserves
- Russia has the fifth-largest untapped REE deposits globally, with reserves of 29 types of rare metals totaling 658 million tonnes.
- Significant REE ore deposits are located at Lovozerskoye (Kola Peninsula), mined by Rosatom's facilities.
- Another major site is Tomtor (Yakutia), expected to yield substantial quantities of REEs and niobium.
- Additional REE deposits are found in the Krasnoyarsk Krai and Irkutsk regions of Russia.
