Russia’s Strategic Goals and Cooperation with BRICS in Mineral Self-sufficiency

Abstract

The growing role of BRICS as an international alliance based on the principles of pluralism of opinions, openness and mutual respect was once again confirmed during the XVI BRICS summit. As the alliance expands, its influence on the global economic system is also growing; the basis for a multipolar world is being formed, which rightfully makes BRICS an “alliance of reformers”. With the expansion of BRICS and its increased influence on global commodity markets, the energy and mineral resource governance framework is also changing. Of most importance are rare earth metals and minerals, essential for maintaining technological sovereignty, developing science-intensive and high-tech sectors of the economy, and modernizing existing energy systems. With Russia under Western sanctions, the issue of its mineral self-sufficiency is particularly acute and strategically vital, which is also reflected the strategy for the development of the mineral resource base of the Russian Federation until 2050, updated in July 2024. Besides, special attention is paid to the creation of reserves, development of new deposits and expansion of cooperation, exchange of experience with friendly states in the energy and mineral resources sector.
The article considers the features of subsoil use and mineral resource base of Russia, and also carries out its structuring and assessment in accordance with sensitivity to changes in economic scenarios and resource security. Trends in the use of rare earth mineral resources in the world and in BRICS are also evaluated. The author analyzes China’s long-term experience in the field of extraction, use and management of rare minerals. The article focuses on Russia’s interests and prospects of mineral self-sufficiency and for strengthening its economic ties with BRICS partners. In conclusion, practical recommendations on promising areas of cooperation between Russia and the BRICS countries in the field of mineral resources and rare earth metals are given, including both joint development of new deposits and the use of innovative technologies and new technological solutions.