Brief by Shorts91 Newsdesk / 04:00am on 14 Jun 2025,Saturday Business
India has instructed IREL, the state-run miner, to pause a 13-year rare-earth export agreement with Japan, reallocating materials like neodymium for domestic industries to reduce dependence on China . In 2024, IREL supplied over 1,000 MT out of its 2,900 MT output to Japan—nearly one-third of its production . With China imposing export curbs since April, India plans to boost domestic mining and processing, targeting 450 MT of neodymium by fiscal 2026 and doubling output by 2030 . The government is also considering incentives for local rare-earth magnet facilities and negotiating diplomatically to amend the bilateral deal with Japan. (PC: Reuters)
