Reference
Changes included in the new version of the above state programme only concern the contents of Sub-Programme No 15 Development of the Rare and Rare Earth Metals Industry. They have been drafted in accordance with Presidential Instruction No Pr-2663 of 10 October 2012. Under this instruction, the Government shall draft and approve a programme to produce rare earth metals in the country.
The provision of rare and rare earth metals for the Russian economy has tremendous national security implications and is an important condition of industrial modernisation. Global market supply of rare and rare earth metals is limited. Until recently, China produced 97% of rare earth metals, and Chinese companies controlled 42% of their global reserves.
Currently, Russia has no rare earth metals industry of its own. Although Russia ranks second in terms of rare earth metal reserves, it completely meets domestic demand through imports.
The sub-programme aims to create a complete national rare and rare earth metals industry with a complete production cycle for meeting the demand of the national defence industry, civilian economic sectors and for entering foreign markets.