India Eyes Russian Rare Earths As IREL Explores Siberian Deposit
Why it matters
Why it matters for greenfield investors: India Eyes Russian Rare Earths As IREL Explores Siberian Deposit. Semiconductor and electronics announcements only convert if power, water, land, and clearance timing are real. Our analysis covers South India site and utility constraints for this class of project.
India is exploring access to Russia’s Tomtor rare earth deposit in Siberia as state-run IREL evaluates the resource in partnership with Rosneft. The move comes amid growing concerns over China's export restrictions on critical minerals. Alongside overseas sourcing, India is strengthening domestic rare earth capabilities and aims to begin manufacturing rare earth magnets by 2029–30 to support EVs, renewable energy, defence, and semiconductor industries.