India seeking Siberian rare earth samples – Reuters India has requested rare earth samples from a Siberian deposit owned by Rosneft as it seeks to reduce its dependence on China for critical minerals essential for energy transformation. New Delhi aims to study the mineral composition before deepening engagement with Russia, while also exploring partnerships with other nations and investing in domestic production of rare earth magnets. This move comes amid global efforts to secure rare earth supplies due to trade tensions and supply chain disruptions.

• India has requested rare earth samples from a Siberian deposit owned by Rosneft.
• The move is part of India’s strategy to secure supplies and reduce dependence on China for critical minerals.
• Rare earth magnets are crucial for energy transformation technologies like electric vehicles and renewable energy.
• India has significant rare earth reserves but does not domestically produce rare earth magnets, with consumption expected to double by 2030.
• India is also in talks with Japanese and South Korean companies for rare earth magnet manufacturing and exploring mining pacts with Russia, Australia, Argentina, Chile, and African countries.
• India has allocated funds for rare earth permanent magnet manufacturing and joined the US-led Pax Silica alliance.
• Indian entities have signed MoUs and letters of intent with Russian companies for research and development in rare earth processing and magnet production.
• India is also exploring coking coal assets and nickel imports from Russia.