Boosting India's Rare Earth Capabilities: A Call for Action

A parliamentary panel has urged increased budgetary support for IREL (India) to prioritize rare earth element exploration and mining. Rare earth minerals play crucial roles in clean energy and defense. The panel also advises forming international collaborations for technological advancement in the sector.

A parliamentary panel is urging the government to allocate focused budget support to IREL (India) to improve the exploration and mining of rare earth elements, which are crucial for advancing technology and reducing import dependency.

IREL, a central public sector under the Department of Atomic Energy, stands as India's sole company mining and refining rare earth materials. The Standing Committee on Coal, Mines, and Steel recommended stronger strategies for domestic supply and economic feasibility to reduce heavy reliance on imports.

Rare earth elements, essential for renewable energy solutions and defense, are classified as critical or strategic nature under the Mining Act, leading the panel to suggest enhancing IREL's capacity and engaging in international collaborations for technological exchange.

(With inputs from agencies.)