India to challenge China on rare earth magnets, soon to announce schemes for…
Rare soil materials are a group of 17 elements that are very important for many modern technology. They are used in automotive parts, defense equipment such as automotive parts, such as missiles, drones, fighter and satellites.
Narendra Modi with Xi Jinping (File Picture)
Although China agreed to remove the ban on the sale of rare earth magnets in an agreement with the United States, it did not announce a similar relief for Indian companies. The new Delhi decided to take the dragon in his own way. The Union government will soon announce a series of subsidies and other incentives for its companies to discover, develop mines and magnets, and produce their magnets. He implied to journalists to launch a plan to subsidize domestic production of rare earth magnets within 15-20 days on Tuesday, HD Kumaraswamy, the Minister of Heavy Industries and Steel Hd Kumaraswamy.
HS says Kumarswamy …
“A company based in Haydarabad … They show interest. They promised that they will deliver 500 tons until December this year. We had interviews with the minister’s minister. Our secretary and our Ministry is ultimately working on a decision (to be taken) within 15-20 days.” The Secretary of the Ministry of Heavy Industry, Kamran Rizvi, said that the government has consulted with stakeholders to determine the quantum of the subsidy to be presented within the scope of the plan. If total incentives contain cross RS. 1,000 Crore will be sent to the union cabin for plan approval. He also said that the real production of rare earth magnets will last for about two years. In order to make alternative regulations in the temporary period, the government and the government are looking at other supply sources in the temporary period, including Japan and Vietnam.
Subsidy for investment
In accordance with the government plan, subsidization can facilitate investment to create processing facilities for companies to transform rare soil oxides into magnets. Indian Nadir Earth Magnets Ltd, a PSU under the Ministry of Atomic Energy, is the only store of the rare worlds in India.
What are rare soil materials?
Rare soil materials are a group of 17 elements that are very important for many modern technology. They are used in automotive parts, defense equipment such as automotive parts, such as missiles, drones, fighter and satellites. They may seem scarce, but they are abundant in the Earth’s shell. The problem is difficult to remove in the quantities of disintegration and economically applicable.
(With PTI inputs.)
