Putin Unleashes Fury on Rare Earth Deposit Operator - 'Get It Together or Get Out'

President Vladimir Putin has taken a strong stance against the operator of Tomtor, Russia's largest rare earth deposit, over significant delays in its development.

Located in the northern region of Yakutia in Siberia, Tomtor is not just any ordinary rare earth deposit. It is a key project that Russia is heavily banking on to boost its output of these crucial metals, which play a significant role in the production of mobile phones, electric cars, and various components for the defense industry.

The current state of affairs, however, does not seem to be moving in the direction that Russia had envisioned. Mr. Putin's comments made it clear that he is running out of patience with the slow progress, pointing out that Russia's reliance on imports from China for these metals is becoming a concern.

Mr. Putin's remarks suggest that the operator needs to either get its act together by securing more investment or possibly seek assistance from third-party entities - including the state itself. The President's strong stance may be an indication that Russia is willing to explore all avenues necessary to ensure the successful development of the Tomtor deposit.

Rare earth metals are crucial in the manufacturing of electronics and high-tech devices, including smartphones and laptop computers. They are also used in the production of environmentally friendly products like wind turbines and electric vehicles.

Russia's push to develop Tomtor is a significant part of its broader strategy to become less dependent on China, the world's leading supplier of these metals. By ramping up domestic production, Russia aims to establish itself as a player in the rare earth market and reduce the risks associated with relying on a single external supplier.

Mr. Putin's involvement in the Tomtor project underscores the strategic importance that Russia places on this rare earth deposit. As tensions between Russia and the West continue to rise, Moscow's bid to develop its own resources could be a decisive move in strengthening its position on the global stage.