ANNOUNCEMENT 24 Jan 2014In January 2014, the government of the Russian Federation announced a change to private-sector financial support.
NUMBER OF INTERVENTIONS
With Decree 42/21.1.2014 the Russian government approved state subsidies to the Russian rare earth industry with a total amount of RUB 735.2 million (US$ 21 million) for the period 2014-2016.
According to the official document, the state support recipients are entitled to credit interest rates reimbursements. The purpose of the state support is to increase the competitiveness of the local rare earth miners and to meet the rare earth demand of the Russian defence industry.