Rosatom is on track to significantly bolster Russia’s rare-earth metals (REM) production capabilities with the anticipated completion of a new production facility by the end of 2026. Ruslan Dimukhamedov, the Chairman of the Association of Producers and Consumers of Rare and Rare Earth Metals and General Director of the JSC Solikamsk Magnesium Plant (a Rosatom entity), unveiled plans for the plant that is expected to start producing its first batch of rare-earth products in early 2027.
This ambitious initiative, requiring an investment of 7 billion rubles, aims to position Rosatom at the forefront of the REM sector, promising to enhance Russia’s standing in the global market for these critical materials. The project’s financial sustainability is currently under discussion, with proposals including designating it as a priority regional investment project and exploring additional support mechanisms such as Special Investment Contracts (SPIC) or Agreements on Protection and Promotion of Capital Investments to secure necessary funding.
The proposed plant is set to produce 2.5 thousand tonnes of rare earth products annually, including oxides of key metals like lanthanum, cerium, neodymium, and praseodymium, as well as an REM group concentrate. This production is expected to meet the demands of Rusatom Metalltech (Rosatom’s metallurgical integrator), particularly for Russia’s first large-capacity permanent rare-earth magnets production facility in Glazov, Udmurt Republic.
Highlighting the project’s significance, Dimukhamedov noted that neodymium and praseodymium, though constituting only about 20% of the total production volume, are projected to account for 90-95% of the total revenue. This underlines the strategic importance of these metals in the burgeoning global market for rare earths, essential for various high-tech applications, including green technologies and electronics.
Moreover, the establishment of this plant is poised not only to expand Russia’s REM production capacity but also to introduce competition within the domestic market. Dimukhamedov emphasized the importance of a diversified and competitive landscape to ensure reliable product supply chains, dismissing concerns over potential monopolization by Rosatom’s venture. 
