MOSCOW, July 1. /TASS/. Russia plans to boost its own production of rare earth metals (REM) seven-fold by 2030, Industry and Trade Minister Anton Alikhanov said.
"Thanks to large projects with interested investors, we are planning a seven-fold increase in our own production of rare earth metals, reducing our dependence on imports to a minimum level," he said at a meeting of the Federation Council’s (upper house) economic policy committee.
The Industry and Trade Ministry told TASS earlier that the launch of large investment projects in the field of rare earth metals in the Murmansk and Irkutsk regions, as well as in Yakutia and other areas, was being prepared. By 2030, Russia plans to increase the production of rare earth metal products to 50,000 tons, which will reduce the level of import dependence several times, the ministry noted.