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India.com
6 days ago
- Business
- India.com
India gets BIG lead on super magnets, signs deals with eight countries to...; bad news for China due to...
(File) India rare earth magnets: In a significant move that could deal a severe blow to China's monopoly over rare earth elements (REEs), India is in talks with several countries who have sufficient reserves of rare earth minerals. The development comes after China restricted the export of rare earth magnets to India following Operation Sindoor, citing 'national security' concerns. Which countries has India signed agreements with? In a written reply during the ongoing monsoon session of the Parliament, Union Minister Jitendra Singh informed the House that India has already agreements to procure super magnets aka rare earth magnets and other rare earth minerals from at least eight countries and talks are underway with Brazil and Dominican Republic. 'To develop bilateral cooperation with countries rich in mineral resources, the Ministry of Mines has signed agreements with the governments of many countries. These countries include Australia, Argentina, Zambia, Peru, Zimbabwe, Mozambique, Malawi, Cote d'Ivoire (Ivory Coast) and organizations like the International Energy Agency (IEA),' Singh revealed. Jitendra Singh, who is the Minister of State (Independent Charge) of the Department of Atomic Energy, further stated that the Ministry of Mines has also initiated the process of entering into Government-to-Government (G2G) MoUs with Brazil and Dominican Republic to develop cooperation in the field of rare earth minerals and critical minerals. 'The primary objective of these agreements is to create a developed framework for research, development and innovations in the mining sector, with a special focus on rare earth elements (REE) and critical minerals,' he added. How India is working to develop new supply chain of rare minerals? According to the minister, the Indian government is working strengthen the supply chain of critical minerals with initiatives like Mineral Security Partnership, Indo-Pacific Economic Framework (IPEF), India-UK Technology and Security Initiative (TSI), Quad and Critical and Emerging Technologies (iCET). Does India have rare mineral reserves? As per official data, India has around 7.23 million tonnes of rare earth element oxides and 13.15 million tonnes of monazite– an important source of thorium used in generating nuclear energy. Monazite reserves have been discovered in coastal areas, red sand and alluvial soil areas of Andhra Pradesh, Odisha, Tamil Nadu, Kerala, West Bengal, Jharkhand, Gujarat and Maharashtra. Singh stated that about 1.29 million tonnes of rare earth minerals have been found in parts of Gujarat and Rajasthan, adding that the Geological Survey of India (GSI) has discovered a whopping 482.6 million tonnes of resources of rare earth element (REE) ore at various cut-off grades in 34 exploration projects. Why India needs rare earth magnets? Super magnets or rare earth magnets are used in the manufacturing of ll kinds of advanced equipment ranging from electric vehicles (EV) to military drones and radar systems. According to industry estimates, India expects to import 700 tonnes of magnets worth $30 million this year, a major chunk of which comes from China. As per customs data, Chinese exports of permanent magnets fell 51% to 2,626 tonnes in April after the export ban came into force, while India imported 460 tonnes of rare earth magnets, most of which came from China, in the financial year that ended on March 31, 2025. According to official estimates, China controls more than 90% production of rare earth magnets, but imposed restrictions on their export in April in response to the tariffs imposed by US President Donald Trump.
Mint
23-07-2025
- Business
- Mint
India steps up global push for rare earth security amid China curbs
With China enforcing stringent controls on rare earth magnet exports, India has intensified its global outreach to safeguard the critical mineral supply chains, the government told Parliament on Wednesday. The government has initiated bilateral talks with Brazil and the Dominican Republic, and has also deepened engagement with multilateral platforms to build cooperation around rare earth elements and critical mineral security, Jitendra Singh, minister of state (independent charge) for science and technology, and the department of atomic energy, said. Apart from other portfolios, Singh also holds charge of the ministry of earth sciences. The union ministry of mines is engaged in these inter-governmental talks to sign memorandums of understanding, while the ministry of external affairs has tapped into relevant stakeholders to alleviate challenges arising from China's stranglehold over rare earth magnets, the minister's statement said. Rare earth magnets, essential to sectors like defence, electronics, clean mobility and renewable energy, have become a focal point of global strategic competition, with China holding a dominant position in their processing and trade. India has exported 18 tonnes of rare earth minerals over the last decade, the minister's written reply to Parliament said. It said India has approximately 7.23 million tonnes of rare earth oxides, which are processed to make magnets used in key strategic sectors such as defence, electronics, renewable energy, and clean mobility. "Additionally, Geological Survey of India (GSI) has augmented 482.6 Mt resources of REE (rare earth elements) ore at various cut-off grades in 34 exploration projects," the government said. It said the mines ministry has initiated talks with mineral-rich nations such as Australia, Argentina, Zambia, Peru, Zimbabwe, Mozambique, Malawi, Cote D'Ivoire as well as international organizations, such as the International Energy Agency (IEA). The ministry is also engaging with platforms such as the Minerals Security Partnership (MSP), the Indo-Pacific Economic Framework (IPEF), and the initiative on Critical and Emerging Technologies (iCET). India's engagement with multilateral platforms is largely dependent on the US. The MSP is a US-led alliance of 14 countries, including India, and was set up in 2022 to secure critical mineral supply chains by reducing dependence on any one particular country. The IPEF is a similar US-led alliance of 14 countries, focusing on collaborative policies on trade, supply chains, clean energy, and decarbonisation. The iCET is a bilateral agreement between India and the US for collaboration in technology, including artificial intelligence and semiconductors. "Critical minerals such as lithium, graphite, cobalt, titanium, rare earth elements, etc., are demand intensive due to their strategic uses in various sectors, viz., electric vehicles, renewable energy and defence," the government said. "In case of any further development in rare earth mineral exports to Japan, efforts shall be undertaken to mitigate the disruptions," the government statement said. India had suspended its rare earth mineral export to Japan after China halted export of magnets made of the same material, according to a Reuters report on 15 June, citing unnamed sources. Mint had reported on 7 July that Indian importers rushed to purchase permanent magnets, including rare earth magnets, at a premium from China, ahead of the export control order issued on 4 April.
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Business Standard
30-04-2025
- Business
- Business Standard
Sebi cracks down on three YouTubers for misleading investment content
Markets regulator Sebi on Wednesday barred three individuals from the securities markets for five years for allegedly misleading investors through YouTube videos to buy shares of Atlantaa. The regulator slapped a penalty of Rs 50 lakh on Manish Mishra and Rs 10 lakh each on Vivek Chauhan and Ankur Sharma. The markets watchdog also directed Mishra and Sharma to disgorge the unlawful gains worth Rs 10.38 lakh that they had pocketed and deposit the amount in the Investor Protection and Education Fund (IPEF) within 45 days of the order. "...the noticees 1, 2 and 5 (Manish Mishra, Vivek Chauhan and Ankur Sharma) have colluded and engaged in a coordinated scheme to upload misleading videos to induce investors to trade in shares of the company and in doing so, they have violated PFUTP (prohibition of fraudulent and unfair trade practices) regulations," Sebi said. Sebi observed that Manish Mishra had made illegal profit of Rs 4.37 lakh and Ankur Sharma had made illegal profit of Rs 6.01 lakh, while Vivek has not traded in the securities at all. In its probe, the regulator pointed out that Manish Mishra, identified as the creator of the two YouTube channels -- MIDCAP CALLS and profit yatra -- colluded with Chauhan and Sharma to disseminate false and misleading information to induce unsuspecting investors to buy shares. Accordingly, Sebi debarred Manish Mishra, Vivek Chauhan and Ankur Sharma from accessing the securities market and further prohibited them from dealing in securities (including units of mutual funds) or being associated with the securities market in any manner, whatsoever, for five years. Mishra and Chauhan are noted to be repeated defaulters and have acted against the spirit of fair play of the market and sound trading principles in the past also, the order said. The latest order came after Sebi conducted an investigation (pursuant to a reference from NSE) in the trading activities in the scrip of listed-entity Atlantaa Ltd during the period from August 1 to November 23, 2022. A show cause notice was issued on June 27, 2024 to the individuals for the alleged violations. Earlier, the Securities and Exchange Board of India (Sebi) had issued restraint orders against Mishra and Chauhan in the matter involving Sadhana Broadcast, Sharpline Broadcast and Pressure Sensitive Systems (India) Ltd.
Korea Herald
02-04-2025
- Business
- Korea Herald
S. Korea launches supply chain working group to boost cooperation with IPEF members
South Korea established a working group of supply chain experts Wednesday as part of efforts to bolster cooperation with members of the Indian-Pacific Economic Framework in response to global supply chain uncertainties, the industry ministry said. The working group will work to advance joint efforts of 14 IPEF member nations, including South Korea, the United States, Japan, Malaysia and Australia, to respond to the supply chain crisis amid growing tensions in the global trade market, according to the Ministry of Trade, Industry and Energy. South Korea is the chair of the Crisis Response Network, one of three arms of the IPEF's supply chain agreement. As the chair, Seoul plans to hold two regular meetings of the CRN this year to conduct a simulation exercise on possible disruptions in health care and critical mineral supply chains and discuss measures to strengthen IPEF member nations' response capabilities, according to the ministry. "Risks of supply chain disruptions are high at the moment with the rise of protectionism and supply chain fragmentation," said Lee Jae-keun, director general for new trade strategy and policy at the ministry. "We need to create a strong network among IPEF member countries for mutual support in times of crisis," he added. (Yonhap)
