Autobayng News Team
Union MoS Jitendra Singh“>
India is accelerating exploration of lithium and rare earth elements and plans to scale domestic production capacity of rare earth permanent magnets to about 5,000 tonnes by 2030, Union Minister Jitendra Singh said in Parliament on Wednesday.
Replying to questions during the Question Hour in the ongoing Budget Session, the minister said that the current domestic requirement of rare earth permanent magnets is about 4,000 tonnes and is projected to rise to nearly 8,000 tonnes by 2030, making expansion of local production necessary.
He said that a pilot project on neodymium-iron-boron permanent magnets has been launched, while a samarium-cobalt magnet plant at Visakhapatnam has started operations with an initial capacity of 500 tonnes per year, which will be scaled up to 2,000 tonnes and further to 5,000 tonnes by 2030.The minister said the government is adopting a whole-of-government approach to fast-track exploration and development of critical minerals, including lithium and rare earth elements, which are required for electric vehicles, renewable energy, electronics, defence, aerospace and space applications, as well as emerging technologies requiring reliable energy systems.Responding to a question on lithium reserves in Degana, Rajasthan, he said that preliminary survey work is underway and further exploration will begin soon, adding that similar efforts are ongoing in Reasi district of Jammu & Kashmir under the Ministry of Mines.Singh said that recent policy measures, including liberalisation of provisions and opening up to private participation under the SHANTI framework, are expected to help boost domestic capacity while reducing import dependence, with safeguards for strategic resources such as uranium.The minister also said rare earth corridors have been identified in Tamil Nadu, Odisha, Andhra Pradesh and Kerala to strengthen the domestic ecosystem for processing and value addition, while noting that deposits occur both in beach sand minerals and rock formations, requiring different exploration approaches.
He added that the government is focusing on strengthening the critical minerals supply chain, reducing imports and building domestic capabilities, while ensuring environmental safeguards and curbing illegal mining.
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