India Eyes Russian Siberian Deposit to Secure Critical Rare Earth Supplies

India is intensifying its strategic push to diversify critical mineral supply chains by exploring rare earth samples from Russia’s massive Tomtor deposit in Siberia. This move marks a significant step in India's mission to reduce its heavy reliance on Chinese mineral imports and secure the raw materials essential for high-tech industries.

Strategic Engagement with Russia's Tomtor Deposit

State-owned miner IREL, which operates under the Department of Atomic Energy, is currently in discussions with the Russian oil major Rosneft regarding the Tomtor deposit in Yakutia. Rosneft acquired this site last year, and it is recognized as one of the world’s largest undeveloped rare earth deposits.

According to reports, these high-level discussions are being routed through official government channels to maintain confidentiality. The initial phase of this engagement involves sourcing mineral samples from Siberia. These samples are expected to undergo processing within Russia before being shipped to India for detailed analysis. India’s primary objective is to conduct an in-depth study of the mineral composition at Tomtor to determine the feasibility of long-term commercial engagement.

Building a Domestic Magnet Manufacturing Ecosystem

The pursuit of rare earth elements (REEs) is a matter of national economic security. Rare earths are indispensable components in the production of electric vehicle (EV) motors, advanced defence systems, and various clean energy technologies. While India currently holds the world’s third-largest rare earth reserves—estimated at approximately 7.23 million metric tons—the country faces a significant gap in large-scale refining capacity for high-purity separation.

To bridge this gap, the Indian government has approved a ₹73 billion ($770.77 million) programme aimed at boosting domestic rare earth magnet production. The ultimate goal is to establish a functional domestic magnet production ecosystem by 2029–30, reducing vulnerability to global supply shocks.

A Diversified Global Sourcing Strategy

India is not relying on a single source for its mineral security. IREL is executing a multi-pronged global strategy to evaluate various mining prospects and supply routes. In addition to the Siberian talks, India has previously explored sourcing samples from Myanmar.

Currently, IREL is engaged in parallel discussions with firms in Japan and South Korea to leverage technical expertise. Furthermore, the state miner is actively evaluating mining opportunities in Argentina, Australia, and Malawi. This diversified approach is designed to create a resilient supply chain that can support India's burgeoning green energy and defence manufacturing sectors.

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