On June 19, the staff of the International Best Practices Analysis Department at the Gaidar Institute was invited to the
Large amounts of rare earth metals such as gadolinium or yttrium are required to deposit a superconducting layer. Rare earth metals (REMs) are a group of 17 elements that include 15 elements of the lanthanide group, as well as scandium and yttrium. While each REM is used in a variety of applications, four elements — neodymium, dysprosium, praseodymium and terbium, for example — are of particular importance to the clean energy sector.
The International Energy Agency predicts a 40% increase in global REM demand by 2050. However, China has remained a major producer since theRussia has one of the largest raw material bases of REMs, and the volumes of their extraction are comparable to those of China. However, it should be noted that in Russia rare earth metals are categorized as “scarce” resources. The share of Russian REM deposits being developed and ready for development accounts for 3.6% of the world’s reserves (Russia is ranked 4th in the world in terms of reserves), but the volume of extraction is limited and is carried out only at the Lovozero deposit in the Murmansk region.