Federal State Budgetary Organization "Russian Energy Agency" (REA) by the Ministry of Energy of the Russian Federation, Moscow, Russia¹ ; A. V. Topchiev Institute of Petrochemical Synthesis of Russian Academy of Sciences, Moscow, Russia² ; National University of Oil and Gas “Gubkin University”, Moscow, Russia³:

O. V. Zhdaneev, PhD, Deputy CEO¹, Leading Researcher², Associate Professor³, e-mail: Zhdaneev@rosenergo.gov.ru

Federal Agency for Mineral Resources, Moscow, Russia:
Ye. I. Petrov, Head of the Agency, e-mail: rosnedra@rosnеdra.gov.ru

The Diplomatic Academy of the Ministry of Foreign Affairs of the Russian Federation, Moscow, Russia¹ ; Federal State Budgetary Organization "Russian Energy Agency" (REA) by the Ministry of Energy of the Russian Federation, Moscow, Russia²:
A. A. Seregina, Candidate of Political Sciences, Associate Professor of the Department of World Economy¹, Project Director at the Directorate of Technologies in the Fuel and Energy Complex², e-mail: a.seregina@dipacademy.ru, ORCID: 0000-0002-2090-4061

The typical life cycle of a Russian extractive project starting from the field is licensing all the way to the physical launch and commissioning of the plant is, on average, at least 10 years. Such a long construction cycle increases the discounted payback period by more than 15 years, at the desired rate of 8 years. Based on the principles of rational use and protection of subsoil, Russian legislation is advanced in terms of reliability, safety, sustainability. However, the current standards and regulations do not allow to move to the active phase of setting up enterprises for the extraction, processing of rare (RM) and rare-earth (REM) metals and to create an industry with a full production cycle in a shorter time frame. It should be noted that the basic technologies used in RM and REM sectors in comparison with foreign ones, currently provides parity in terms of processing of mineral raw materials. The implementation of the Roadmap for the Rare and Rare-Earth Metals product line will ensure at least 50% of import substitution of RM and REM by 2024 and achieve complete import substitution of RM and REM by 2030, restore the leading position of the Russian Federation in the global market of RM and REM with a market share of at least 4% in 2024 and up to 10% in 2030.

We express our gratitude to the Rare and Rare Earth Metals Producers and Consumers Association NPO represented by its Chairman R. R. Dimukhamedov for assistance in collecting analytical materials and writing a paper.

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