Russia has offered India access to the Tomtor rare earth metals deposit in the republic of Sakha (Yakutia), one of the world's largest undeveloped sources of rare earth elements, Reuters reported Tuesday, citing a source familiar with the talks.
India's state-owned mining company IREL is holding confidential discussions with Russian state-owned oil giant Rosneft on obtaining samples from the deposit, according to the source.
The material would undergo preliminary processing in Russia before being shipped to India for analysis, allowing Indian specialists to assess its mineral composition before deciding whether to deepen cooperation.
The talks come as India seeks to strengthen domestic supply chains for critical minerals and reduce its dependence on China, which dominates the global rare earth industry.
For Russia, expanding cooperation with India on strategic commodities offers another avenue to develop resource projects and deepen economic ties with one of its key trading partners.
