Rare Earth Industry – How to Take Advantage of Opportunities

DOI: http://dx.doi.org/10.30686/1609-9192-2020-5-68-84
V.A. Kryukov, V.A. Yatsenko, Ya.V. Kryukov
Institute of Economics and Industrial Engineering, Siberian Branch of the Russian Academy of Sciences, Novosibirsk, Russian Federation
Russian Mining Industry №5 / 2020 р. 68-84

Читать на русскоя языкеAbstract: The article analyzes the features of the formation and development of the industry associated with the extraction and processing of rare earth metals (REM). REM are widely used in modern high-tech devices and products. A distinctive feature of REMs is the integration of their extraction and production into global chains. At present, China has a dominant position in the REM supply market. This situation is a consequence of state policy, which includes a wide range of support and lobbying measures. Russia has one of the largest potential for the extraction and production of rare earth metals, but this potential is not being properly realized. The volume of extraction and production is small, and a significant part of the production is exported. Russia is forced to import many types of highly purified rare earth metals. Authors believe that the current economic situation – a change in the configuration of global REM value chains – creates a unique chance for Russia to bring potential opportunities in line with its real situation.

Keywords: rare earth metals, technological chains, high technologies, mining, processing, demand, production capacity

Acknowledgements: The work was executed as part of the R&D plan of the Institute of Economics and Industrial Engineering, Siberian Branch of the Russian Academy of Sciences, Project XI.174.1.2. "Fundamental approaches to formation of interaction between key players in development of mineral resources of Asian part of Russia in conditions of global challenges in 21 Century."

For citation: Kryukov V.A., Yatsenko V.A., Kryukov Ya.V. Rare Earth Industry – How to take advantage of opportunities. Gornaya promyshlennost = Russian Mining Industry. 2020;(5):68–84. (In Russ.) DOI: 10.30686/1609-9192-2020-5-68-84.

Article info

Received: 27.08.2020

Revised: 03.09.2020

Accepted: 14.09.2020

Information about the author

Valery A. Kryukov – Academician of the Russian Academy of Sciences, Doctor of Science (Economics), Professor, Director, Institute of Economics and Industrial Engineering, Siberian Branch of the Russian Academy of Sciences, Novosibirsk, Russian Federation; e-mail: This email address is being protected from spambots. You need JavaScript enabled to view it..

Viktor A. Yatsenko – Research Scientist, Institute of Economics and Industrial Engineering, Siberian Branch of the Russian Academy of Sciences, Novosibirsk, Russian Federation.

Yakov V. Kryukov – Candidate of Sciences (Economics), Senior Research Scientist, Institute of Economics and Industrial Engineering, Siberian Branch of the Russian Academy of Sciences, Novosibirsk, Russian Federation.

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