India eyes strategic access to Russia’s Tomtor rare earth deposits

India is pursuing strategic access to Russia's vast Tomtor rare earth deposit, a move that could significantly reshape global supply chains for critical minerals. Confidential discussions are underway between India's state-owned IREL and Russia's state-owned oil company Rosneft regarding cooperation on the project, which is located in the Sakha (Yakutia) region.

The proposed arrangement entails initial mineral processing in Russia, followed by detailed analysis in India. This evaluation process is crucial for Indian experts to determine the deposit's mineral composition and assess the feasibility of deeper collaboration. The initiative underscores India's broader strategy to secure reliable sources of rare earth elements, essential for manufacturing components used in electric vehicles, renewable energy systems, electronics, and defense equipment, thereby reducing its reliance on China, the current global leader in production and processing.

For Russia, this partnership presents an opportunity to bolster economic ties with India and accelerate the development of its own critical minerals sector. Control of the Tomtor project was transferred to Rosneft in 2025, signaling Moscow's intent to leverage its strategic mineral wealth. Despite Western sanctions, Russia is actively seeking to expand economic cooperation with countries like India.

India, despite possessing the world's third-largest rare earth reserves, lacks a fully developed rare earth magnet manufacturing industry. To address this, New Delhi approved a substantial program in November 2025 to build domestic production capabilities. The country is also exploring critical mineral opportunities in other nations and forging partnerships with companies in Japan and South Korea, highlighting a global effort to diversify supply chains away from China's dominance.