Han media: India plans to produce rare earth permanent magnets within the year, reducing reliance on China!
On March 22, South Korean media Newsis published an article stating that India plans to produce rare earth permanent magnet materials, a core material for the electric vehicle and renewable energy industries, within the year.
This is aimed at reducing dependence on rare earths imported from China and building a foundation for self-sufficiency in core minerals.
The Indian Minister of Mines recently stated that the country will collaborate with the private sector to start producing rare earth permanent magnets this year.
He made this statement during an event co-hosted by the Federation of Indian Chambers of Commerce and Industry (FICCI) and the Ministry of Mines, saying, "India will begin producing permanent magnets by 2026."
The Indian government approved a rare earth permanent magnet manufacturing project worth 7.3 billion rupees (about 5.6 billion Chinese yuan) last November.
The plan aims to build an integrated production capacity of 6,000 tons per year, covering the entire value chain from rare earth oxides to final magnet products.
Rare earth permanent magnet materials are high-performance materials essential in various industrial fields such as electric vehicles, aerospace, defense industry, renewable energy, electronic devices, and wind turbines.
Under its "Self-Reliant India" strategy, the Indian government has reduced its reliance on rare earth imports and is building a self-sufficient system for core minerals.
The Minister of Mines explained that the Ministry and state-owned institutions have developed permanent magnet production technology and plan to set up key mineral processing equipment in four states.
However, India faces a shortage of key mineral processing equipment, and the processing stage has been identified as a core issue.
He emphasized that without establishing a complete value-added chain, the core minerals processed will inevitably continue to rely on overseas sources.
Data from the US Geological Survey shows that India's rare earth reserves amount to 6.9 million tons, ranking third in the world. However, due to insufficient investment from private enterprises, actual mining volumes have remained at a low level.
In India, the consumption of rare earth permanent magnets is expected to double by 2030. Currently, most of the demand is met through imports.
Original article: toutiao.com/article/1860326795453440/
Statement: This article represents the views of the author.