India Eyes Russian Siberian Rare Earth Deposits to Secure Supply Chains
India is aggressively pursuing new avenues to secure critical mineral supplies as it seeks to reduce its heavy reliance on China. In a strategic move, state-owned miner IREL is reportedly in discussions with Russian oil giant Rosneft to source rare earth samples from the massive Tomtor deposit in Siberia.
Strategic Diversification Away from China
As global competition for critical minerals intensifies, India is prioritizing the diversification of its supply chains. The Tomtor deposit, located in Yakutia, stands as one of the world’s largest undeveloped rare earth reserves. By engaging with Rosneft—which acquired the deposit last year—India aims to gain early access to high-quality mineral data. These discussions are being conducted through official government channels to ensure diplomatic and commercial alignment.
The current plan involves a cautious, phased approach. IREL, which operates under the Department of Atomic Energy, intends to first study the specific mineral composition of the Tomtor samples once they are processed in Russia and shipped to India. Only after this technical evaluation will New Delhi consider deeper, large-scale commercial engagement.
Strengthening Domestic Magnet Production
The push for rare earths is driven by the urgent need to power India's green energy and defense transitions. Rare earth elements are indispensable components in electric vehicle (EV) motors, advanced defense 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 nation currently lacks the large-scale refining capacity required for high-purity separation.
To bridge this gap, the Indian government has approved a ₹73 billion ($770.77 million) programme specifically designed to boost domestic rare earth magnet production. The ultimate goal is to establish a robust manufacturing ecosystem, with domestic magnet production targeted for the 2029–30 period.
A Multi-Front Global Mineral Strategy
The Siberian exploration is only one piece of India's broader "mineral diplomacy." IREL is managing a multi-pronged strategy to secure the raw materials necessary for the high-tech economy:
- Regional Focus: India has previously explored sourcing mineral samples from Myanmar to secure its supply lines.
- International Partnerships: Parallel discussions are currently underway with specialized firms in Japan and South Korea.
- Global Mining Prospects: IREL is actively evaluating mining opportunities in Argentina, Australia, and Malawi to ensure a steady inflow of raw materials.
By spreading its interests across diverse geographies—from the Arctic reaches of Siberia to the mining hubs of Africa and South America—India is positioning itself to become a self-reliant player in the global critical minerals market.
Key Takeaways
- India is exploring samples from the Tomtor deposit in Siberia via Rosneft to study mineral composition and reduce dependence on Chinese supply chains.
- A ₹73 billion government programme has been launched to advance domestic rare earth magnet production, aiming for scale by 2029–30.
- IREL is executing a global strategy, evaluating mining prospects in Argentina, Australia, Malawi, and engaging with partners in Japan and South Korea.