Russia’s Siberia may hold one of the world’s largest reserves of rare earths

The Tomtor

The Tomtor deposit of niobium and rare earths located in Russia’s Yakutia Republic is one of the world’s three biggest by reserves, Russian miner Polymetal, which owns a minority stake in the project, said on Monday.

“Tomtor confirmed its scale and grade as one of the premier niobium and rare earths deposits globally,” Polymetal CEO Vitaly Nesis said in a statement, citing the estimates made by ThreeArc Mining, which is developing the project.

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