Meetings underway to mitigate Rare Earth magnet crisis: Heavy Industries Minister H D Kumaraswamy
Kumaraswamy, journalists said in a statement on Tuesday, “We are working on (we are addressing the Nadir Toprak Magnet crisis). Haydarabad -based company Midwest showed interest. By the end of this year, 500 tons of rare soil magnets production and targeting 5000 tons of production in the next year.
Among them, the authorities said that an incentive plan for rare earth magnets will substitute processing units. India’s own rare earth magnet production is also expected to produce in the next two years.
Indian automobile players had red flagged pavements in consumables of permanent magnets derived from land.
A answering the queries about the current situation, a senior official said, “As of today, things seem better. He said.
His comments are watching the meetings of Chinese Foreign Minister Wang Yi with the Indian National Security Advisor Ajit Doval. In a statement, the Chinese Foreign Ministry spokesman said, “China and India should comply with an important consensus that both sides are opportunities for each other’s development, that they do not pose a threat to each other, that they do not pose any threat to each other, and that they should be a partner from Rins.
In addition to importing minerals, India is preparing to promote domestic processing of rare soil supply chains. Explaining the need for incentives, the authority, “Rare soil oxides and rare soil magnets in the prices of almost 5% difference… China, the price of the magnets to keep the price very low,” he said.
According to official estimates, the public sector, which undertakes Irel (India), can supply sufficient rare soil to make 1500 tons of magnet.
“It will take two years to convert these rare lands into magnets,” he said.
Kumaraswamy also launched the application process for the plan to promote electric passenger automobile production in India. This schema provides lower tasks for imports of high -level electric cars if automobile main branches invest in India.
Authorized, commenting on how to withdraw participation, “We write to the embassies of the countries that build automotive industries and encourage them to participate in the program,” he said.
Authorized, invitations will be expanded to Vietnam, Germany, Czech Republic, England and the United States.
