logo
India holds 8.52 million tonnes of rare earth oxide resources; no rare earth imports in last 10 years: Govt

India holds 8.52 million tonnes of rare earth oxide resources; no rare earth imports in last 10 years: Govt

Time of India3 days ago
New Delhi: India has identified a total of 8.52 million tonnes (MT) of in-situ Rare Earth Elements Oxide (REO) resources across multiple states, as the government pushes ahead with efforts to secure
supply chains for critical minerals
essential to electric vehicles, renewable energy, and defence applications.
According to data presented in the Lok Sabha by Union Minister Dr. Jitendra Singh, the Atomic Minerals Directorate for Exploration and Research (AMD) has estimated approximately 7.23 MT of REO within 13.15 MT of monazite deposits found in coastal beach, teri/red sand, and inland alluvial zones across Andhra Pradesh, Odisha, Tamil Nadu, Kerala, West Bengal, Jharkhand, Gujarat, and Maharashtra. Additionally, hard rock terrains in Gujarat and Rajasthan account for 1.29 MT of REO resources.
Separately, the
Geological Survey of India
(GSI) has reported augmentation of 482.6 MT of REE ore across 34 exploration projects using various cut-off grades.
India has recorded no imports of rare earth minerals over the last 10 years, while exports have totaled 18 tonnes during the same period, the government informed the House.
To meet rising demand and reduce dependence on external sources, the Union Cabinet on January 29, 2025, approved the launch of the
National Critical Mineral Mission
(NCMM) with an outlay of ₹16,300 crore. The mission is expected to attract investments of ₹18,000 crore by public sector undertakings and will be implemented over seven years until FY 2030-31. It aims to strengthen India's end-to-end critical minerals value chain, from exploration and mining to processing, recycling and reuse.
As part of the NCMM, ₹500 crore has been allocated for establishing mineral processing parks, ₹1,500 crore for incentivising mineral recycling from secondary sources, and ₹100 crore for pilot recovery projects. The mission will also support R&D institutions, startups, and MSMEs engaged in innovation across the critical minerals sector.
In FY 2024–25, GSI has taken up 195
mineral exploration projects
focused on critical and strategic minerals. For FY 2025–26, 227 such projects have been lined up. The National Mineral Exploration Trust (NMET) has funded 195 projects so far. Additionally, 33 private exploration agencies are undertaking NMET-funded work.
To expand access to critical minerals abroad, the
Ministry of Mines
established Khanij Bidesh India Limited (KABIL), a joint venture which has acquired 15,703 hectares for lithium mining in Argentina's Catamarca province. KABIL is also in regular discussions with Australia's Critical Minerals Office and has signed bilateral agreements with governments of Argentina, Zambia, Peru, Zimbabwe, Mozambique, Malawi, and Côte d'Ivoire.
The Ministry is also actively participating in global mineral partnerships through platforms like the Minerals Security Partnership (MSP), the Indo-Pacific Economic Framework (IPEF), and the India-UK Technology and Security Initiative.
To further secure supply chains, the Mines and Minerals (Development and Regulation) Act, 1957 was amended in August 2023. The amendments removed six minerals from the list of atomic minerals and created a separate list of 24 critical and strategic minerals. The Centre has since been empowered to auction blocks and exploration licenses for these.
A first tranche of offshore mineral auctions was launched in November 2024, covering 13 blocks including seven polymetallic nodule zones in the Andaman Sea. The first tranche of Exploration Licence (EL) auctions began in March 2025 for 13 blocks containing various critical minerals.
To boost domestic processing capabilities, the government has eliminated customs duties on 25 minerals and reduced duties on two others. In Union Budget 2025–26, exemptions were extended to cobalt powder, lithium-ion battery waste, and 12 more critical minerals.
The ministry of external affairs is engaged with foreign governments to address export restrictions on rare earth magnets and ensure uninterrupted supply chains for Indian industries.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Will India escape the UK's carbon border tax? There's reason for optimism
Will India escape the UK's carbon border tax? There's reason for optimism

Mint

time5 minutes ago

  • Mint

Will India escape the UK's carbon border tax? There's reason for optimism

The UK has agreed not to impose the carbon border tax on India even though the two countries' brand-new trade pact makes no mention of the contentious levy, two Indian government officials aware of the matter said. The Carbon Border Adjustment Mechanism (CBAM) was not discussed as part of the trade talks since the UK is yet to roll out the policy, the people cited above said on the condition of anonymity. Instead, the matter was taken up separately through a parallel track with UK counterparts. 'They have agreed, in principle, not to implement CBAM on Indian goods. This understanding exists outside the FTA, but it reflects mutual recognition of each other's concerns," one of the two officials said. Queries sent to the Union commerce ministry and the UK Embassy in New Delhi remained unanswered till press time. The CBAM acts as a carbon import tax on goods from countries with weaker climate rules. This could make products from India, especially things like steel and cement, more expensive and less competitive when sold to the UK. However, if the UK indeed imposes CBAM on Indian exports, New Delhi will adopt countermeasures to protect its domestic industry, the person cited above said. India communicated to UK officials that CBAM is a disguised trade barrier that penalizes developing countries for their stage of industrial growth, the second official added. The UK has not enforced CBAM so far, unlike the European Union which began a transitional phase last year. The UK's CBAM is set to be implemented on 1 January, 2027. India, on its part, is also pushing for recognition of its domestic climate mitigation efforts, including carbon markets and green technology adoption, as part of broader sustainability cooperation. Industry experts pointed to the need for a formal written assurance on CBAM. Pankaj Chadha, chairman of the Engineering Export Promotion Council (EEPC), said, 'It's a good diplomatic move if the matter has been resolved. But side deals like these need to be documented somewhere so that they can serve as a template while negotiating with the EU." On Thursday, India and the UK unveiled a Comprehensive Economic and Trade Agreement (CETA) that aims to boost bilateral trade to $112 billion by 2030 by lowering or eliminating tariff barriers on many items. India is expecting a surge in engineering goods exports to the UK, with industry projections pointing to a near-doubling over the next five years. The UK is currently India's sixth-largest market for engineering exports, and with CETA bringing tariffs down to zero — from a peak of 18% — the removal of duty barriers is expected to drive a sharp rise in shipments of electric machinery, auto parts, industrial equipment, and construction machinery. India's total engineering exports reached an all-time high of $116.67 billion in 2024–25, of which $4.28 billion was accounted for by exports to the UK, as per the commerce ministry data. With the UK's global imports in the sector valued at $193.52 billion, Indian exporters now see a clear runway to expand their market share. The government has estimated that India's engineering exports to the UK could cross $7.5 billion by 2029–30, riding on annual growth of 12–20% in key segments. 'This agreement supports India's broader target of achieving $300 billion in engineering exports by 2030. With the UK's advanced manufacturing sector opening up, Indian firms—especially MSMEs—now have a real opportunity to integrate into global value chains," Chadha said. The zero-tariff regime is seen as a major win for India's MSME base, particularly in the iron and steel sector. Immediate and full elimination of duties—previously as high as 10% for Chapters 72 and 73—will boost price competitiveness for ferrous exports. India currently supplies just $887 million worth of iron and steel products to the UK, representing a mere 4.8% of the UK's $18.46 billion annual import demand in this category. Even a modest gain in market share could sharply lift India's exports toward the $7.5 billion target. With India's global exports in iron and steel already at $22.36 billion, the government estimates that redirecting just one-third of this volume to the UK could be sufficient to achieve the five-year projection.

Maha CM meets several leaders in Delhi for state development projects
Maha CM meets several leaders in Delhi for state development projects

United News of India

timean hour ago

  • United News of India

Maha CM meets several leaders in Delhi for state development projects

Mumbai / New Delhi, July 25 (UNI) In pursuit of various development projects for Maharashtra, Chief Minister Devendra Fadnavis held meetings with several key leaders in Delhi over the past two days. He met with Union Ministers Amit Shah, J.P. Nadda, Rajnath Singh, Nirmala Sitharaman, Shivraj Singh Chouhan, Manohar Lal Khattar, and officials from NITI Aayog. Fadnavis today paid courtesy visits to Minister Shah at Parliament House and to Minister Singh. They discussed various projects and issues concerning Maharashtra. The meeting with Shah lasted around 25 minutes. Fadnavis also met with Manohar Lal Khattar and Haryana CM Nayab Singh Saini. He also met with Minister Sitharaman and requested approvals from the Department of Economic Affairs for funding from international financial institutions for various projects. Ms Sitharaman praised Maharashtra for maintaining excellent financial health by all standards. Fadnavis also held discussions on various projects which includes concrete roads to villages with a population of 1,000: US$1 billion (approximately Rs 8,651 crore) requested from the Asian Development Bank. Coastal protection using natural methods due to rising sea levels: US $500 million (approx. Rs 4,326 crore). Sewage treatment and reuse in municipal cities for industries: $500 million (approx. ₹4,326 crore). Two more projects were proposed for World Bank assistance. Ms Sitharaman directed officials to move ahead with approvals. Finance Secretary Anuradha Thakur, Chief Economic Adviser Praveen Pardeshi, and Principal Secretary to the CM Ashwini Bhide were present. During the meeting with J.P. Nadda, CM Fadnavis held discussions on setting up a large fertilizer plant in Vidarbha. The proposed project, a joint venture between GAIL, the Fertilizer Department, and the Maharashtra government, to be established in Nagpur district and have a capacity of 1.27 million tonnes. It would require 10,000 crore in investment. Maharashtra has submitted a proposal to the Union Ministry of Rural Development to construct 14,000 km of roads worth US$2.6 billion (approx. Rs 22,490 crore). Funding from ADB is planned. These roads will be maintenance-free for 25 years. Shivraj Singh Chouhan emphasized that this would greatly benefit farmers by improving connectivity. Fadnavis requested support for the project. Chouhan also congratulated Maharashtra for rapid progress in the Pradhan Mantri Awas Yojana survey work. Maharashtra has had the highest number of housing approvals in the country—three million. CM Fadnavis met NITI Aayog CEO B V RSubrahmanyam and member Rajiv Gauba. They appreciated that Maharashtra maintained its fiscal deficit at 18 percent, well below the FRBM limit of 25 percent. UNI SP AAA SS

Take steps to extradite fugitives, says Amit Shah
Take steps to extradite fugitives, says Amit Shah

Time of India

timean hour ago

  • Time of India

Take steps to extradite fugitives, says Amit Shah

Union home minister Amit Shah NEW DELHI: Union home minister Amit Shah on Friday inaugurated the two-day National Security Strategies Conference, where the police brass, domain experts and young police officers working at the cutting edge-level are joining heads to discuss the major challenges to national security and explore solutions. Shah directed the participants -- who include the top police leadership of states, Union territories (UTs), Central armed police forces (CAPFs) and Central police organisations (CPOs) -- to undertake dedicated measures to bring back fugitives involved in terrorist and smuggling activities with enhanced coordination between the Central and state law enforcement agencies, besides recalibrating the approach towards disrupting domestic nodes of the terror-criminal nexus. The ministry of home affairs (MHA) was asked to set up a forum with stakeholders across the spectrum, to come up with solutions to counter the use of encrypted communication by terror networks. Reviewing terror financing mechanisms, agencies were directed to unearth terror modules by analysing inputs pertaining to financial irregularities. MHA was also asked to ensure that only indigenous technology was used by police organisations. Shah will address the conference, being held in a hybrid format, on Saturday. On Friday, prior to inaugurating the meet, he laid a wreath at the Martyrs column and paid homage to the police personnel who had made the supreme sacrifice in the line of duty. Around 800 officers from across the country participated in the deliberations on Friday, alongside senior officers like the Union home secretary, deputy NSA, heads of CAPFs and CPOs, and state/UT DGPs. Young police officers and domain experts joined the conference virtually. The idea of a National Security Strategies Conference was conceived by PM during the 2016 DGPs/IGPs conference with the objective of finding solutions to major national security challenges through discussions amongst a unique mix of senior police leadership.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store