The only producer of rare earths in India, IREL plans to increase its mining capacity by 400% over the next ten years in order to help the nation secure supplies of essential minerals for its transition to clean energy.
By the end of 2032, state-owned IREL (India) Ltd. hopes to extract 50 million tonnes of rare-earths bearing ore annually, up from the current 10 million tonnes, according to Chairman D. Singh.
In contrast to the current capacity of 5,000 tonnes, that would enable it to manufacture 13,000 tonnes of refined rare earths annually.
India is battling with how to secure supply of commodities like rare earths and lithium that will be required in greater amounts as the world moves away from fossil fuels, just like other large nations.
Geopolitical tensions also mean there’s concern about China’s grip over commodities used in everything from electric vehicles to wind turbines.
