DOMESTIC PRODUCTION OF RARE EARTH MAGNETS
Rare earth magnet users jolted into paying premium prices for ex-China supply
China's export restrictions on rare earth magnets, crucial for EVs and wind turbines, have disrupted global supply chains, prompting companies to seek alternatives outside China. Manufacturers in Europe, the U.S., and Asia are now willing to pay premiums for non-Chinese magnets to secure supply, though concerns remain about excessive costs impacting profitability and demand.
Sona Comstar plans to manufacture EV magnets in India amid China export curbs
Sona Comstar, India's leading rare earth magnet importer, intends to manufacture these crucial EV components locally, capitalizing on government incentives aimed at reducing reliance on China, which controls 90% of global production and has restricted exports. Despite a U.S.
Indian auto delegation yet to leave for China for talks to expedite supply of rare earth magnets
Indian auto industry representatives are facing delays in their trip to China to secure rare earth magnet imports, crucial for automotive manufacturing. The delegation awaits formal approval from the Chinese commerce ministry despite holding visas.
Ford forced to idle multiple US plants on China magnet shortage
Ford faced factory shutdowns in the US recently. This happened because of a shortage of rare earth minerals. These minerals are vital for car parts. China's new export rules caused supply delays. CEO Jim Farley stressed the need for a local supply chain. He mentioned magnets are essential for various car functions. The company is struggling to get these materials.
China's rare earths are flowing again, but not freely
Automotive supply chain faces less shutdown risk as Chinese rare earth magnets resume flow. European suppliers secure licenses, but US-linked cases face delays. Volkswagen reports stable supply, Stellantis addresses concerns. China's export restrictions impacted magnet exports. US and China deal aims to expedite rare earth approvals. Approvals are at a bare minimum to avoid production halts.
India taking steps to mitigate disruptions due to China's rare earth curbs
India is proactively addressing potential supply chain vulnerabilities stemming from China's rare earth export restrictions. Despite possessing significant reserves, India's domestic rare earth production lags, leading to substantial imports. To counter this, the government is implementing a national initiative and offering incentives to boost local processing and magnet production, aiming to secure its supply of these critical materials.
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How China is playing a twin-track game with India
India, China ties: Despite diplomatic efforts to normalise relations, China is employing trade as a strategic tool against India, halting key exports like rare earth magnets and fertilizers. These actions, impacting India's manufacturing and agriculture, appear to be a response to India's restrictions on Chinese economic engagement following border clashes.
Govt, industry, academia working to resolve issues concerning rare earth magnets: Meity official
The Indian government, industry, and academia are collaborating to address challenges in producing rare earth magnets—crucial components for sectors like automobiles and electronics—at commercially competitive rates. Although India has the technology, mass production remains difficult.
Exploring options for rare earth magnet supplies: H D Kumaraswamy
India is actively seeking solutions to mitigate disruptions in the supply of rare earth magnets, crucial for electric vehicle components. A Hyderabad-based company aims to produce 500 tonnes of these magnets by year-end, with plans to scale up significantly. The government is considering incentives to boost domestic processing and counter China's dominance in the market, ensuring automakers' production isn't halted.
Tata Motors says no panic yet over rare earth supply
Tata Motors is actively exploring alternative sources for rare earth magnets, ensuring that China's export restrictions haven't disrupted its production. The company currently reports no immediate concerns about supply shortages or production cuts. Meanwhile, the Indian government is considering a subsidy scheme to boost domestic rare earth magnet production, aiming to reduce import dependence and strengthen local manufacturing capabilities.
Meetings underway to mitigate Rare Earth magnet crisis: Heavy Industries Minister H D Kumaraswamy
India is exploring solutions to manage rare earth magnet supply disruptions, Union Heavy Industries Minister H. D. Kumaraswamy said on Tuesday. Addressing the issue, he stated, “We are working on it… Midwest, a Hyderabad-based company, has shown interest. They are targeting 500 tonne rare earth magnet production by this year end, aiming for 5000 tonne production in the next.”
India to decide on rare earth magnet subsidy scheme within 20 days: Kumaraswamy
The Indian government is set to finalise a subsidy scheme within 15-20 days to boost domestic rare earth magnet production, aiming to reduce reliance on Chinese imports. Consultations are underway to determine the subsidy amount, potentially requiring cabinet approval if it exceeds ₹1,000 crore.
Magnet crunch: Indian firms pitch supply chain plans to curb China’s rare earth dominance
Indian companies are stepping up to establish domestic rare earth magnet supply chains due to China's export restrictions. Midwest Advanced Materials, Entellus Industries, and IREL have presented plans to the government, aiming to reduce reliance on Chinese imports. The government is considering incentives to support local production, addressing concerns from the auto industry about supply timelines.
Indian cos chart magnet supply chain plans
The companies have presented plans to the government, aiming to reduce reliance on China and meet the auto sector's demand for rare earth magnets. The government urges realistic production timelines to avoid disruptions.
Over 21,000 jobs in audio electronics segment at risk due to China's rare earth curbs: Elcina estimates
China's export restrictions on rare earth metals, crucial for audio electronics, threaten over 21,000 jobs in India. This disruption forces device makers to import fully assembled speaker modules, reversing the trend of local component manufacturing. ELCINA urges government intervention through G2G dialogue and incentives to boost domestic rare earth magnet production and R&D to mitigate the impact.
Tata Motors working with govt, looking alternate sources for magnets: Chandrasekaran
Tata Motors is proactively addressing potential disruptions from China's rare earth element export restrictions by collaborating with the government and diversifying magnet sources. Despite geopolitical uncertainties like the Iran-Israel war, the company remains confident in its strong platform and readiness for growth.
Magnets in limbo: No rare earth nod yet from China for Indian auto suppliers
Indian auto component and vehicle manufacturers are facing significant hurdles in procuring rare earth magnets from China, as no approvals have been granted by the Chinese government so far. This situation is causing uncertainty in manufacturing schedules and factory output, impacting the production of essential components for vehicles. The delay is attributed to stringent export regulations and strained India-China relations.
China's rare earth magnet shipments halve in May due to export curbs
China's rare earth magnet exports plummeted in May, hitting a five-year low due to new export restrictions imposed in April. This disruption, impacting crucial sectors like auto and aerospace, stems from cautious customs processing and confusion over magnet classifications. While China has approved some export licenses, overall shipments have significantly decreased, raising concerns about global supply chain stability.
Rare earths set to get up to Rs 5,000 crore incentive scheme
India is set to approve a ₹3,500-5,000 crore scheme to incentivise domestic production of rare earth minerals and magnets, aiming to reduce reliance on Chinese imports. This decision follows concerns raised by industries like automotive and renewable energy, which heavily depend on these critical materials.
Attero to invest Rs 100 crore to scale up rare earth recycling capacity to 30,000 tonnes
Attero plans a Rs 100 crore investment to significantly scale its rare earth recycling capacity from 300 to 30,000 tonnes within 12-24 months, driven by rising demand and China's export restrictions. The company will focus on extracting key minerals like Neodymium, Praseodymium, and Dysprosium with high efficiency, supporting India's self-reliance in critical minerals and the National Critical Mineral Mission.
Rare Earths supply: India steps up mining, refining to safeguard EV future
The Centre is working to secure the supply chain for rare-earth materials, essential for electronics and electric vehicles, by holding inter-ministerial meetings to review local availability. These efforts aim to mitigate the impact of potential supply disruptions from China, particularly concerning permanent magnets derived from rare earth elements.
G-7 eyes rare earth action plan as China’s magnet control raises alarm
G-7 nations are formulating an action plan to diversify critical mineral sourcing, aiming to reduce reliance on China. The initiative addresses concerns over supply chain vulnerabilities and seeks to bolster investment in responsible mining projects. China's export restrictions on rare earth elements have impacted various sectors, prompting G-7 to ensure economic stability and secure access to vital resources.
India may 'facilitate' magnet relief for auto cos as China keeps rare earth keys
The Indian government is intervening to help its auto industry secure rare earth magnets from China, as delays in approvals threaten manufacturing schedules. Companies have submitted end-user certificates, and industry representatives will visit China with government support to expedite the process. The situation is complicated by tense India-China relations, with potential production disruptions looming if approvals are not granted soon.
Shortage of rare earth magnets can decelerate India's automotive ride, Crisil says
Rare earth magnets, low in cost but critical in function, could emerge as a key supply-side risk for India's automotive sector if China's export restrictions and delays in shipment clearances persist, according to a report by Crisil Ratings.
India moves to conserve its rare earths, seeks halt to Japan exports, sources say
India has requested IREL to halt rare earth exports to Japan, aiming to secure domestic supplies and lessen reliance on China. This decision follows China's export restrictions, which have impacted global industries. IREL intends to expand domestic mining and processing capabilities, seeking partnerships for rare earth magnet production, while India plans incentives for local processing and magnet facilities.
Auto sector pushes 3-step plan to cut China dependence for rare earth magnets
Indian automakers are facing potential supply disruptions of rare earth magnets due to China's export controls, impacting production of critical components for both electric and conventional vehicles. To mitigate this, the industry has proposed a three-pronged strategy to the government, including local assembly incentives, recycling initiatives, and diversification of import sources.
Rare earth magnets: Maruti Suzuki explores multiple options to ensure operational continuity
Maruti Suzuki India is actively seeking solutions to maintain production amidst the rare earth magnet shortage, triggered by China's export restrictions. While operations remain unaffected for now, the company is closely monitoring the evolving situation. The Indian auto industry anticipates potential production issues, particularly for EVs, and is seeking government assistance to expedite import approvals from China.
We got rare in abundance
Grappling with export curbs on rare earth magnets from China, India must liberate itself by plugging into its critical minerals through policy and innovation. Neodymium may well be the alternate we need.
Rare earths roadblock: India’s automakers await China’s nod for magnet talks
Indian auto industry representatives are seeking expedited rare earth magnet imports from China due to new export restrictions imposed in April. The restrictions, requiring special licenses and end-use disclosures, have led to potential production issues, especially for electric vehicles.
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