Laboratory of Innovative Technologies has become the first company on the territory of the ex-USSR to start processing rare-earth metals.
Previously all concentrates have been processed abroad, and then returned back to Russia as oxides, metals and alloys. From now on Russia will be processing them itself.
All the products manufactured will be sold on the domestic market.
The total cost of the project is 585 million rubles, including a loan of 179 million rubles.
Russia accounts for some 28 million tons of rare-earth metals, occupying the second position in the world, and each year produces some 2 thousand tons of concentrate.
The first stage of the project in the city of Korolev will have a capacity of 130 tons per year.
The second stage is planned to be carried out by 2020, increasing capacity to 1 thousand tons per year. (Ukrainian metal)