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Russian support for rare earth industry development

by:Newland     2020-04-29
Based on the analysis of media reports, the Russian government is by no means did not notice the presence of the rare earth. The Russian government is trying to pass a support plan to develop rare earth industry, the program began in 2013 and will last until 2020. The plan aims to through the establishment of guaranteed supply of rare earth concentration, reduce the dependence on imports, Russia but also to overcome more difficult challenges in domestic mine rare earths. Kasatkin said, a consulting firm, so far, the plan is the result of decentralized, most of the implementation of the measures related to the research and development. According to analyst Voloshin said, Russia currently imports 90% of the processing of rare earth consumption, most of them come from China. Mr Putin himself said in 2016, these metal to Russia's defense capabilities, modern weapons and military equipment is essential; Although they are the biggest use of manufacturing permanent magnet, and permanent magnets are key components in electric cars. Kasatkin said that Russia's current annual consumption of only slightly more than 1000 tons, of which 80% occurred in petrochemical industry. In February 2019, the Russian state duma ( The house of Commons) Passed a draft law to rare earth mining tax rate from 8% to 4. 8%. The draft also need to pass the examination can be signed into law by Mr Putin. Voloshin said, 'although Russia will focus on capital intensive and technology complex industry, but the country does not seem to be particularly suited to benefit from its massive foreign exchange reserves. Draft 'in addition, the industry development strategy formulation work in progress, until 2035. In 2013, the Russian government in more than four years time allocated 4. 2 billion rubles to research and development, by the end of 2016, Russia has completed 40 r&d plan.
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