India Eyes Russian Siberian Deposit to Secure Critical Rare Earth Supplies
India is aggressively pursuing new avenues to secure its rare earth mineral supply chain, shifting its focus toward Russia to reduce dependence on China. State-owned miner IREL is currently in discussions with Russian oil giant Rosneft to obtain mineral samples from the massive Tomtor deposit located in Siberia.
The Strategic Importance of the Tomtor Deposit
The Tomtor deposit in Yakutia is recognized as one of the world’s largest undeveloped rare earth deposits. This makes it a high-value target for India as it seeks to bolster its domestic manufacturing capabilities. Under the guidance of the Department of Atomic Energy, IREL is leading these negotiations through official government channels.
The proposed plan involves a cautious, phased approach: the samples will first be processed in Russia before being shipped to India. This allows Indian scientists to study the specific mineral composition of the Tomtor site to determine the feasibility of long-term extraction and processing before committing to deeper commercial engagements.
Strengthening the Domestic Magnet Manufacturing Ecosystem
Rare earth elements are indispensable components for modern high-tech industries, specifically for electric vehicle (EV) motors, advanced defence systems, and clean energy technologies. While India holds the world’s third-largest rare earth reserves—estimated at approximately 7.23 million metric tons—the country currently lacks the large-scale refining capacity required for high-purity separation.
To bridge this technological gap, the Indian government has approved a ₹73 billion ($770.77 million) programme aimed at boosting domestic rare earth magnet production. The strategic goal is to have large-scale magnet production operational by 2029–30, providing the backbone for India's green energy and defense transitions.
A Diversified Global Sourcing Strategy
The pursuit of Russian minerals is part of a much larger, multi-pronged strategy to insulate India from geopolitical volatility and China's dominance in the mineral sector. IREL is not limiting its outreach to Russia; the state miner is simultaneously conducting parallel discussions with firms in Japan and South Korea.
Furthermore, India is evaluating mining prospects across several continents to build a resilient supply network. Current areas of interest include:
- Argentina, Australia, and Malawi: Evaluating long-term mining prospects.
- Myanmar: Previous efforts were made to explore sourcing samples from this region.
By spreading its interests across diverse geographies, India aims to secure the high-purity materials necessary to transform its massive mineral reserves into a functional industrial powerhouse.
Key Takeaways
- Strategic Shift: India is negotiating with Russia’s Rosneft to access samples from the massive Tomtor deposit in Siberia to diversify away from Chinese supply chains.
- Manufacturing Push: A ₹73 billion government programme is underway to build domestic rare earth magnet production, targeted for completion by 2029–30.
- Global Diversification: Beyond Russia, IREL is actively evaluating mining and supply opportunities in Japan, South Korea, Argentina, Australia, and Malawi.