IREL Negotiates with Rosneft for Tomtor Rare Earth Samples
India's IREL is in talks with Rosneft for mineral samples from the Tomtor deposit in Yakutia, aiming for long-term supply of critical minerals. This initiative is part of India's strategy to secure essential resources for electronics, batteries, green energy, and defense industries.
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IREL is engaging with Rosneft to obtain mineral samples from the Tomtor site in Yakutia, which is among the largest rare earth deposits globally, holding 154 million tons of ore. Expert André Matveev advocates for developing local processing industries rather than simply attracting foreign investments.
He emphasizes the need for a comprehensive value chain that includes lithium extraction and tungsten development alongside Tomtor. The main challenge remains in mineral processing, requiring advanced technologies to separate chemically similar elements.
Local control over quality and environmental impacts is critical for sustainable development. Strategic government support is essential for transforming Yakutia's mineral wealth into a technological industry.
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