2025-02-28
Rusal said on February 27 that it is investing 500 million rubles ($5.73 million) to build a rare earth metal scandium production facility with an annual output of 1.5 tons, and the production capacity will be increased to 19 tons per year. The company said it will use the technology it has developed to produce scandium oxide from red mud, a byproduct of alumina production, and estimated that the global annual production of scandium oxide (the main form of metallic scandium) is only 20-25 tons.
The announcement came days after Russian President Vladimir Putin called on Russia to increase rare earth metal production and U.S. President Donald Trump was preparing to sign a deal with Ukraine to develop minerals that can be used in a wide range of areas from defense to consumer electronics. Russia has the world’s fifth-largest rare earth metal reserves and aims to become one of the top five rare metal producers by 2030, accounting for 12% of the global market share.
