India Eyes Russian Siberian Deposit to Secure Critical Rare Earth Supplies

India is aggressively diversifying its critical mineral supply chains as it seeks to reduce long-term dependence on China. In a strategic move, state-owned miner IREL is currently in discussions with Russia’s Rosneft to source rare earth samples from the massive Tomtor deposit in Siberia.

Strategic Pivot Toward the Tomtor Deposit

The Tomtor deposit, located in Yakutia, stands as one of the world’s largest undeveloped rare earth deposits. Following Rosneft's acquisition of the site last year, Indian officials are exploring a preliminary engagement to assess its potential. According to reports, these discussions are being routed through official government channels to maintain confidentiality.

The proposed process involves sourcing mineral samples from Siberia, which will undergo initial processing in Russia before being shipped to India for detailed analysis. India’s primary objective is to study the specific mineral composition of the Tomtor deposit to determine the feasibility of a deeper, long-term commercial engagement.

Strengthening the Domestic Magnet Manufacturing Ecosystem

This move comes at a crucial time for India's high-tech manufacturing ambitions. Rare earth elements are indispensable components for electric vehicle (EV) motors, advanced defense systems, and clean energy technologies. While India possesses 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 aimed at boosting domestic rare earth magnet production. With a target to begin large-scale magnet manufacturing by 2029–30, securing a reliable raw material pipeline is the most critical link in this industrial chain.

A Multi-Pronged Global Sourcing Strategy

India is not putting all its eggs in one basket. IREL, which operates under the Department of Atomic Energy, is leading an expansive overseas push to secure mineral security. While the Russian talks represent a significant geopolitical and industrial angle, India is simultaneously executing a multi-country strategy:

Al colaborar con múltiples socios en diferentes geografías, India busca construir una cadena de suministro resiliente que pueda resistir la volatilidad geopolítica y garantizar el crecimiento constante de sus sectores de energía verde y defensa.

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