INDIA
In a few months India will find its way back on the global rare earth (RE) production map when its 10,000 tonnes Monazite processing plant in Odisha commences production.
In a few months India will find its way back on the global rare earth (RE) production map when its 10,000 tonnes Monazite processing plant in Odisha commences production.
“If everything goes as planned, the Odisha plant will be commissioned by December. We will carry out dry runs, and hopefully, start production early next year,” said RN Patra, CMD, Indian Rare Earths Limited (IREL).
The plant — set up with an investment of Rs140 crore — is expected to produce 5,000 tonnes of RE oxides. “From nil production, we would be doing 4% of global production,” said Dr Patra. Around 2,250 tonnes of it will be separated at IREL’s Aluva facility in Kerala for domestic consumption and the rest will be exported.
But a major worry for IREL is competitive pricing. In 2004, cheap Chinese supply edged it out of the market. “The government realises this. Pricing is currently under discussion,” Dr Patra added.
Sources said there is steady progress on another 12,000 tonnes Monazite processing plant near Vizag, being set up with Toyota’s help. It is expected to yield high purity RE oxides, including Neodymium, that is used in permanent magnets.
Last month, China, for the first time since 2005, announced a 2.7% increase in its RE exports quota as compared to previous year, thus allowing a total of 30,996 metric tonnes in 2012. But, that may not make much difference since Chinese exporters haven’t anyway fully utilised export quotas in the past years — attributed to a slump in demand because of high prices, and smuggling of RE’s in China. Plus, global RE companies are now consciously reducing their dependence on Chinese RE’s.
US-based Molycorp Inc is reviving its Mountain Pass mine in California that shut down in 2002. The company’s projected production in 2012 is between ‘8,000 and 10,000 metric tonnes’. By the end of 2013, it expects to have a capacity of up to ‘40,000 metric tonnes per year’.
Lynas Corporation that owns the other big global RE asset — Mt Weld mine in Australia — is on the verge of starting production. Lynas has set up a RE separation facility in Gebeng, Malaysia. The plant is expected to supply 11,000 tonnes in its first year, with the target of reaching 22,000 tonnes. Its scheduled start has, however, been delayed because of opposition from political parties over radioactivity concerns.
RE production is also being revived in South Africa, Vietnam, Canada, Kazakhstan and Mongolia. Center for Techno-Economic Mineral Policy Options (C-TEMPO) — a think tank under the ministry of mines, says Russia, Kyrgyzstan, Thailand, Malaysia, Brazil, Indonesia, Sri Lanka, North Korea, Saudi Arabia, Turkey, Norway, Greece, Nigeria, Kenya, Tanzania, Burundi, Madagascar, Mozambique and Egypt — are also producing RE’s.
“Most recently, it was discovered that Afghanistan may have large deposits of RE, estimated to be worth $89 billion,” said C-TEMPO.
A few weeks back, the Canadian government made a proposal to a visiting Indian ministry of mines team for prospecting REs in Canada. The proposal is being examined by the Atomic Minerals Directorate.
IREL is reported to be under an agreement with Japan’s Toyota Tsusho to supply 6,000 tonnes of RE oxides. Japan’s JOGMEC is also learnt to be partnering with India to explore and process REs.
Following a meeting (New Delhi, 2011), the Indian and Japanese PMs had ‘decided’ that their enterprises would jointly undertake “production and export of REs.” Sources said, negotiations at the diplomatic level have picked up.
Japan has been one of the worst hit by China’s export restrictions. Masaru Sato, assistant secretary, Japan’s foreign ministry told DNA that in 2010, 82 per cent of Japan’s RE imports came from China.
Joint development of RE’s is a “win-win economic cooperation,” Sato said, indicating that Japan would contribute technology, and India would supply RE’s that will help Japan ‘diversify’ its RE sources and maintain a “stable long term supply.”
The EU may also be exploring its options with India. “As part of the Raw Materials initiative, the EU maintains dialogues with resource rich countries across the world. EU companies will be interested in purchasing supplies from a variety of countries. As regards India, the EU is currently negotiating a Free Trade Agreement with India, where rules on both imports and exports of goods are discussed,” John Clancy, EU’s trade spokesman, told DNA through e-mail.
IND vs AUS: Records Virat Kohli can break during Border-Gavaskar Trophy
Diljit Dosanjh fans get angry over Ananya Panday's birthday post for her grandmother, here's why
Reddit suffers outage with ‘upstream connect error’ message, says 'currently investigating...'
Border-Gavaskar Trophy: How has Jasprit Bumrah fared in Tests in Australia?
Delhi records coldest night of the season, temp drops to...
Crossing the Line: Ukraine's Use of Storm Shadow Missiles and the Escalation of Conflict
When Malaika Arora talked about the controversial ‘instant pleasure’ ad, it was for…
This is the world’s most expensive shopping street, not Fifth Avenue, New Bond Street, it is...
Big setback for Gautam Adani, Kenya cancels Rs 6216 crore deal with Adani Group due to...
Viral video: Man’s jugaad to stay warm in winter will leave you SHOCKED, watch here
Hinduja Group firm gets key approval for acquisition of Anil Ambani's debt-ridden Reliance Capital
Viral video: Middle-Class man lives dream of having tea at Taj Hotel, netizens applauds
Shloka Mehta looks stunning in white floral kurta as she clicked with Akash Ambani, it costs Rs....
Who is Sagar Adani, Gautam Adani's nephew, accused of bribery, fraud charges in US?
PayPal down: Several users face issue while logging into accounts, say 'no one could...'
IND vs AUS: Jasprit Bumrah, Pat Cummins eye historic captaincy milestone in Perth Test
BGT 2024, Ind vs Aus: Can Shubhman Gill be the new Cheteshwar Pujara? Is he really ready?
The Ultimate Guide to Luxury Gifting: Discover Heirloom Pashmina by Pashmina.com
Effortless Relocations: The Perks Of Professional Removalists In Melbourne
Watch: Pakistan fan with 'Imran Khan' poster asked to leave Hobart stadium in Australia
International Criminal Court issues arrest warrant against Israeli PM Benjamin Netanyahu for...
What is demisexuality? Everything you need to know about this lesser-known sexual orientation
WATCH: World’s shortest woman meets world’s tallest woman, video goes viral
IND vs AUS 1st Test: Predicted playing XIs, Perth weather forecast and pitch report
IND vs AUS: When will Rohit Sharma join India squad? Check latest update
'Scam 2024': Diljit Dosanjh lookalike pranks people on Pune streets, video goes viral
Delhi Air Pollution: Centre announces staggered work timings for govt employees; check details
Mukesh Ambani's Reliance Jio loses nearly 80 lakh subscribers in just 30 days, BSNL adds...
IND vs AUS, 1st Test Dream11 prediction: Fantasy cricket tips for India vs Australia match
This country has most expensive passport in world, not US, UK, UAE, it costs Rs...
Amitabh Bachchan opens up on Aishwarya Rai-Abhishek Bachchan divorce rumours
Amid rising air pollution, Delhi-NCR's crematorium records cleanest air; check AQI here
Revolutionising Medical Imaging: Venudhar Rao Hajari’s impact on healthcare technology
Abhishek Gupta and Onevision Media: Scaling brands on social media
Video shows Korean girl eating jalebi for first time, her reaction to Indian sweet goes viral
Cristiano Ronaldo confirms THIS YouTube star as his next guest, says, 'Will break Internet'
Delhi Assembly Elections: AAP releases first list of 11 candidates for 2025 polls
Adani Group's FIRST REACTION after US indicts Gautam Adani in alleged bribery case
Instagram introduces new feature, know how to reset app's algorithm, change your feed
No mention of Aaradhya Bachchan in Amitabh Bachchan's post on birthdays, it happened recently
Oppo Find X8 and X8 Pro launched in India, check specifications, price, other details
Charges against Gautam Adani: BJP's scathing attack on Congress, questions timing of development
Jasprit Bumrah's BIG statement on taking up Perth test captaincy, says, 'tactically better...'
Blackout on breaks: Company imposes no-sick-leave policy until 2025
Drug-laden terrorists on India's western, northern frontiers
Mohammad Shami trolls Sanjay Manjrekar over IPL auction bid prediction, says, 'Baba ki...'
IND vs AUS Test: When and where to watch 1st match of Border-Gavaskar trophy, know details here
CAQM amends Grap Stages III, IV, enforces stricter measures in Delhi-NCR amid air pollution woes
Malayalam actor Meghanathan passes away at 60 after suffering from...
Adani Green Energy's FIRST reaction after US indicts Gautam Adani in alleged bribery case
'Keep me out of...': Pakistani Instagram star Mathira on MMS leak controversy
Delhi Air Pollution: AQI marginally improves from 'severe' to 'very poor' category
Meet actress who worked with Alia Bhatt, was asked to 'compromise', connected to Aishwarya Rai by..
Aishwarya Rai’s remark on Amitabh Bachchan’s ‘habits’ goes viral amid divorce rumours with Abhishek
Rekha's BOLD statement about Amitabh Bachchan goes viral, 'why hurt...'
Meet man, IITian who built Rs 5493 crore firm, has this Mukesh Ambani connection, he is from...
Shillong Teer Results TODAY November 21, 2024 Live Updates: Check winning numbers here
‘I didn’t have time to…’: When AR Rahman revealed having ‘agreement’ before marriage to Saira Banu
Amitabh Bachchan praises Abhishek Bachchan's new film, netizens ask 'kash ye Aishwarya...'
Viral video: Woman's sizzling belly dance to 'Namak' impresses internet, watch
Hardik Pandya banned, Mumbai Indians captain to miss first match of IPL 2025 due to...
Meet man who studied at IIM, IIT, then built Rs 1160000000 company, got inspired by…
Meet woman, who quit as dentist for UPSC exam, became IAS officer with AIR...
Viral video: Little girl steals hearts with her adorable dance to 'o meri cutie', watch