VOI World/ Desk
India has begun discussions with Russian oil producer Rosneft to study rare earth deposits in Siberia as New Delhi looks to secure supplies of critical minerals essential for electric vehicles and advanced electronics.
According to officials, the talks are aimed at examining the mineral composition of deposits in Siberia’s Tomtor region. The move comes after China, India’s largest supplier of rare earth magnets, tightened export controls, leading to concerns over the availability of key materials.
Rare earth elements are crucial for manufacturing permanent magnets used in electric vehicle motors and a range of new-age electronic products. India currently lacks large-scale facilities for refining and separating these minerals and remains dependent on imports to meet domestic demand.
During the annual India-Russia summit in December, both countries agreed to deepen cooperation in the rare earth and critical minerals sector. Russia possesses some of the world’s largest reserves of rare earth elements, particularly in Siberia and the Murmansk region.
Last month, a Rosatom unit signed an agreement with India’s Nexon Geochem to jointly develop technologies for processing rare earth materials. Another pact involving IIT-ISM-backed TEXMiN aims to support research into the production of high-performance magnets.
Analysts say diversification of supply chains has become increasingly important as countries seek alternatives to Chinese exports.
