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The Economic Times

Economy / The Economic Times

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India in talks with Russia's Rosneft to tap Siberian rare earth reserves

India is collaborating with Russian oil giant Rosneft to explore Siberia's rare earth deposits, aiming to secure vital mineral supplies. These elements are crucial for electric vehicle motors and advanced electronics, areas where India currently depends on imports. Following past export disruptions, this partnership, initiated during the India-Russia summit, seeks to develop processing technologies and potentially produce essential rare-earth magnets.

19 Jun 2026 11:54 pm