India Launches National Mission to Boost Rare Earth Minerals

India has initiated a seven-year National Critical Mineral Mission to strengthen its rare earth minerals sector, aiming to reduce import dependence and build a resilient supply chain. State PSUs will join forces to enhance domestic capacity and collaborate internationally to secure critical minerals.

India is making significant strides to bolster its rare earth minerals industry through a new seven-year national initiative. This effort, led by the National Critical Mineral Mission, is focused on reducing reliance on imports and creating a robust supply chain, according to R Saravanabhavan, Deputy Adviser on Minerals at Niti Aayog.

During a CII conference, Saravanabhavan highlighted the role of state-owned enterprises in this mission. He noted, "IREL is doing commendable work under the Department of Atomic Energy. We envision state PSUs collaborating with IREL through MOUs and joint ventures to tap into rare earth resources." The initiative also includes extracting rare earth elements from unconventional sources like coal seams.

The Atomic Minerals Directorate remains the sole authority for identifying rare materials, ensuring focused and authorized resource management. As the mission aims to run until 2031, Saravanabhavan emphasized India's openness to international partnerships, citing current collaborations with countries like Australia, and exploring opportunities in Argentina and Bolivia with the consortium KABIL.

(With inputs from agencies.)