Discounts of up to 35% should reduce the pressure of cheap imports from China, as it has become even more difficult to compete with China with the strengthening of the ruble, experts say.
In one of the workshops of the Solikamsk magnesium plant. Illustrative photo: Artem Izofatov/"Rosatom Country".
The Ministry of Industry and Trade proposed to compensate manufacturers of RM and REM by providing discounts of up to 35% to customers, follows from the draft decision developed by the ministry, which is referred to by the Kommersant newspaper. The discount is calculated as the difference between the price approved by the sales policy excluding VAT and the price indicated in the payment documents. The revenue of the company that received compensation for the year should exceed the amount of the subsidy received at least twice, it follows from the draft.
The Ministry of Industry and Trade reported that the mechanism will increase the competitiveness of domestic products in relation to imported ones, stimulate their use by Russian enterprises and will contribute to the formation of long-term contracts between producers and consumers.
The total reserves of 29 rare metals in Russia amount to 658 million tons, according to the Ministry of Natural Resources and Environment. By February 2025, the balance reserves of the REM at 18 explored fields were estimated at 28.5 million tons. But the volume of Russia's own production of these resources is minimal.
According to the Ministry of Industry and Trade, Russia annually imports about 1.5 thousand tons of REM, the volume of production in 2024 is about 50 tons. By 2030, it is planned to increase output to 3 thousand tons and reduce the share of imports of rare and rare earth metals from 75% to 48%. The federal budget allocated 3.85 billion rubles for the development of the RM and REM industry for 2026-2028.
According to the project, producers of loparite concentrate, ilmenite concentrate (at least 62%), ferromolybdenum, neodymium oxide and neodymium versate can receive compensation for costs.
Loparite concentrate is mined by Lovozersky GOK, ilmenite — Tugansky GOK. Both companies are part of Rosatom's mining division. Tantalum and niobium are produced from loparite concentrate, which are necessary for electronics, chemical equipment, optics, etc. In November 2025, Rosatom also announced the completion of the development of a technology for extracting samarium concentrate used for the manufacture of super-powerful magnets. Ilmenite concentrate is also used in the production of electrodes and titanium. The Solikamsk Magnesium Plant, controlled by Rosatom, plans to start production of neodymium oxide (also in demand for magnets).
Learn more on the website kommersant.ru
