Indian government to step up production of rare earth minerals

India plans to step up its indigenous production of rare earth minerals. Bits of these rare earth minerals can be found in almost everything that is high-tech: from smart phones to laptops to hybrid vehicles and wind turbines. Officials from the mines ministry said that a government panel is now working on a strategy paper. The panel aims to give impetus to the exploration and discovery of rare earth and energy critical elements which are used in renewable energy. At present, India does not have a policy on rare earth minerals. In 2010, China, which supplies 97% of the world’s rare earth requirements, curtailed its exports. The export curb plus rising tariffs of rare earth minerals have prompted some countries to increase production of rare earth minerals. Indian Rare Earth is putting up a processing plant in Chhatrapur in Orissa. The U.S. is now rebuilding its rare earths supply chain. Japan and Korea – both considered resource-poor nations, have also started sourcing minerals. (September 1, 2011)