Vedanta eyes 'strategic' Indian rare-earth production within 5 years
SAYAN CHAKRABORTY
BENGALURU -- India's Hindustan Zinc is eyeing rare earth minerals but kick-starting production could take up to five years, a top executive told Nikkei Asia, highlighting the difficulties in building a domestic supply chain to counter China's dominance of the sector.
Chief Executive Arun Misra said that Hindustan Zinc, a subsidiary of Indian natural resources conglomerate Vedanta, wants to mine and process neodymium, a rare earth used in permanent magnets. The company is among the world's largest producers of zinc, silver and lead.
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