“Rostech” to compete with China on rare-earth metals production

A state-run corporation “Rostech” and “IST” Group of A.Nesis will invest $1 billion into rare-earth metals production. About 97% of the world’s production is currently in China.

As the newspaper “Kommersant” writes, citing the sources, familiar with the details of the project, “IST” and the state-run corporation will create a joint venture.