The joint venture of the Russian Technologies and IST Group has won the tender for the Tomtorskoye rare-earth metal deposit development

TriArch Mining Ltd, the joint venture of the Russian Technologies and the IST Group has won the tender for the Tomtorskoye deposit development (the Buranny site) for exploration and production of niobium, rare-earth metal, scandium ores and associated components. The Russian Technologies is going to cover the need of the Russian industry with this strategic raw materials via realization of the projects in the sphere of rare-earth metal production and processing.

The start of development of the large rare-earth metal deposits is an important stage for the development of high-tech sphere of industry, the chief of the Russian Technologies S. Chemezov says. They are going to create the full cycle for rare-earth metal production in Russia, from raw materials extraction up to ready goods production. The Russian Technologies Corporation is the majority rare-earth metal consumer in Russia. By 2020, they are going to not only cover its growing needs by 100% but also start exports.