India can easily displace China’s position in Rare Earth
Jan 31 2022
Possible exploitation of Rare Earths in India and take India to great heights on technological advancement, manufacturing hub and huge FOREX in-flow.
a) Minerals namely garnet, ilmenite, zircon, rutile, leucoxene, silimanite,
Monazite, etc are the minerals collectively called as heavy mineral or
b) Monazite which is the only radioactive mineral among these contains
65% Rare earth oxides, 15-20% phosphates, 10-13% Thorium and
0.2 -0.4% Uranium
c) India is home to largest reserves of Monazite and every beach mineral
company is producing these minerals as tailing. These tailings are
either put back in to sea or safeguarded in trenches as per guidelines
of Atomic Mineral department.
d) Only IREL is extracting these rare earth oxides from this mineral but
that is not enough.
e) Rare earth oxides are set of 18 elements (such as cerium,lanthanum,
neodymium, etc) used in various sophisticated applications yet
inevitable applications such as speakers, magnets, motors, solar
panels, etc. With the current trend moving toward electric vehicles, the
demand for rare earth is bound to go up.
f) As of now, entire world is depending on China for rare earth and India
can easily displace China’s position
Steps Reqired: Ministry of Mines and Department of Atomic energy to
allow private companies to process monazite and come up with a
policy to collect back strategic waste products such as uranium and
Competent Authority : Ministry of Mines and Department of
Expected Forex inflow : 120,000 crores equivalent in US
Dollars and 5% growth each year.
Expected new employment : 500,000 employees
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