Rare earth market

Establishment of rare earth production

In December 2011, the Industrial Information Agency, commissioned by ChMP, prepared a report on the market of rare earth products - primarily cerium, lanthanum and neodymium, which in 2010 accounted for 70% of the world's output REM.

The study showed that 97% of the world's rare earth ore reserves are in China. The development of the rare earth industry has led to the cessation of mining and enrichment of rare earth ores in other countries of the world. As a result, due to the established monopoly of China, the prices for oxides of the studied rare earth elements increased by 15-20 times over 1.5 years.

Given Russia dependence on imports and the increasing need of the Russian economy for rare earth elements, ChMP in 2012 initiated the investment project "Creation of rare earth production" with a capacity of up to 2000 tons by 2017.

In 2012:

- developed technology production of neodymium oxide, alloys and ligatures for permanent magnets, an experimental batch of the product has been received,

- modernized pilot extraction plant,

- working documentation for the laboratory extraction unit has been developed.

In 2013, a pilot plant for the production of rare earth elements for mining was modernized technologies for the separation of concentrates of rare earth elements and the production of pilot batches of rare earth elements.

Revision date 9/12/2016