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Review

Prospects for the Development of the Russian Rare-Earth Metal Industry in View of the Global Energy Transition—A Review

Economics, Organization and Management Department, Saint-Petersburg Mining University, 21 Line, 2, 199106 St. Petersburg, Russia
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Academic Editor: Krzysztof Galos
Energies 2022, 15(1), 387; https://doi.org/10.3390/en15010387
Received: 27 November 2021 / Revised: 28 December 2021 / Accepted: 1 January 2022 / Published: 5 January 2022
Global energy transition trends are reflected not only in oil and gas market dynamics, but also in the development of related sectors. They influence the demand for various types of metals and minerals. It is well-known that clean technologies require far more metals than their counterparts relying on fossil fuels. Nowadays, rare-earth metals (REMs) have become part and parcel of green technologies as they are widely used in wind turbine generators, motors for electric vehicles, and permanent magnet generators, and there are no materials to substitute them. Consequently, growth in demand for this group of metals can be projected in the near future. The topic discussed is particularly relevant for Russia. On the one hand, current trends associated with the global energy transition affect the country’s economy, which largely depends on hydrocarbon exports. On the other hand, Russia possesses huge REM reserves, which may take the country on a low-carbon development path. However, they are not being exploited. The aim of this study is to investigate the prospects for the development of Russia’s rare-earth metal industry in view of the global energy transition. The study is based on an extensive list of references. The methods applied include content analysis, strategic management methods and instruments, as well as planning and forecasting. The article presents a comprehensive analysis of the global energy sector’s development, identifies the relationship between the REM market and modern green technologies, and elaborates the conceptual framework for the development of the REM industry in the context of the latest global tendencies. It also contains a critical analysis of the current trends in the Russian energy sector and the plans to develop the industry of green technologies, forecasts future trends in metal consumption within based on existing plans, and makes conclusions on future prospects for the development of the REM industry in Russia. View Full-Text
Keywords: energy transition; rare-earth metals; low-carbon development; clean technologies; green economy; demand; critical materials energy transition; rare-earth metals; low-carbon development; clean technologies; green economy; demand; critical materials
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MDPI and ACS Style

Cherepovitsyn, A.; Solovyova, V. Prospects for the Development of the Russian Rare-Earth Metal Industry in View of the Global Energy Transition—A Review. Energies 2022, 15, 387. https://doi.org/10.3390/en15010387

AMA Style

Cherepovitsyn A, Solovyova V. Prospects for the Development of the Russian Rare-Earth Metal Industry in View of the Global Energy Transition—A Review. Energies. 2022; 15(1):387. https://doi.org/10.3390/en15010387

Chicago/Turabian Style

Cherepovitsyn, Alexey, and Victoria Solovyova. 2022. "Prospects for the Development of the Russian Rare-Earth Metal Industry in View of the Global Energy Transition—A Review" Energies 15, no. 1: 387. https://doi.org/10.3390/en15010387

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