Innoprom discussed the development strategy of the rare earth metals industry

The development of the Russian rare earth metals (REM) industry and the creation of a complete production chain — from the extraction of raw materials to the production of high—tech products - has become one of the key topics of the Innoprom International industrial exhibition. The participants discussed these issues at the panel session "Rare earths — sparks of the future for industry". This was reported by the press service of the organizers of the discussion, the Mendeleev Valley Foundation.

"Russian companies need to extend the chain of processing to finished industrial products. It is not the REM itself that protects the market niche, but the final high—tech products in which it is contained," said Mikhail Yurin, Deputy Minister of Industry of the Russian Federation.

Ksenia Shoigu, head of the Mendeleev Valley Foundation, said that the foundation, together with the Ministry of Industry and Trade and business representatives, has already formed the architecture of 12 priority technological chains based on rare earth metals. They cover areas such as energy storage systems, artificial intelligence, and optical fiber production.

Elena Bezdenezhnykh, Vice President of Rusal, stressed that a key condition for the successful implementation of such projects would be the availability of sustainable demand for their products.

"The demand for the cluster's future products is the most important economic condition for its viability. A correct calculation of Russia's domestic needs for REM, taking into account the growth of high—tech production, and a correct assessment of export opportunities to foreign markets, taking into account political constraints and Chinese dominance, are essential conditions for the success of clusters," said Elena Bezdenezhnykh.

She also noted that the development of the industry requires the integration of the cluster into the state industrial policy. According to the top manager, we are talking about creating a favorable regulatory environment, providing balanced support measures, as well as developing the necessary energy, transport and social infrastructure.