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Time of India
3 days ago
- Business
- Time of India
Batteries, EVs under threat? India fires on all cylinders for rare earths amid China's tightening grip
As China tightens its stranglehold on the global supply of rare earth elements , India is shifting gears — fast. From forging new partnerships in Central Asia to finalising an ambitious incentive scheme for mineral recycling , India is pushing ahead to secure its place in the global race for critical minerals . At the recently held India-Central Asia Dialogue in New Delhi, India and five Central Asian nations expressed mutual interest in jointly exploring rare earths and other critical minerals. In a joint statement, they called for an early meeting of the India-Central Asia Rare Earth Forum, signalling growing geopolitical urgency to diversify away from China's near-monopoly. China's chokehold spurs urgency The backdrop to these moves is no coincidence. Over the past year, China has weaponised its control over rare earths, placing several critical minerals and magnets under strict export licence regimes. These are the very components vital for electric vehicles , wind turbines, semiconductors, and even military-grade systems. Beijing's message is clear: if the West can play export control hardball, China has its own scalpel and it's now using it with surgical precision. While the US, Europe, and Japan scramble to find alternative supply lines, India sees an opening — and it's moving to capitalise. From mission to momentum Under the Rs 34,300 crore National Critical Mineral Mission (NCMM), India aims to become self-reliant in sourcing and processing critical minerals like lithium, cobalt, nickel, and rare earth elements. Joint Secretary in the Mines Ministry, Dinesh Mahur, announced that an incentive scheme for recycling these minerals is in its final stages. The Union Budget has already earmarked Rs 1,500 crore specifically for this effort. Public Sector Enterprises are expected to contribute Rs 18,000 crore to the mission. With a sharp focus on domestic exploration, overseas block acquisition, and technological R&D, the NCMM is India's boldest bet yet to insulate its industries from global supply shocks. Auto industry feels the heat The urgency is not just strategic — it's also economic. Rare earth shortages are already casting a shadow over India's auto sector, especially electric vehicles (EVs), which depend on permanent magnets for motors. Bajaj Auto has warned that its e-scooter production could be impacted from July if Chinese export delays continue. TVS Motor has echoed similar concerns. According to the Federation of Automobile Dealers Associations (FADA), only a third of its members expect sales growth in June. The rare earth crunch, combined with high inventories and tight financing, has pushed automakers to brace for a cautious month — especially as the EV rollout faces headwinds. China's long game, India's fast track What China is doing today has been decades in the making. The world first saw signs of Beijing's ambitions in 2010 when it temporarily banned rare earth exports to Japan over a territorial spat. By 2020, China had passed its own Export Control Law, giving it sweeping powers to curb exports of materials deemed vital to national security. The law was broad enough to include critical minerals, tech, and even data. Now, with the US-China trade war escalating, rare earths have become Beijing's leverage. Export licenses have slowed, production lines in Europe have paused, and Washington is on edge. China's near-monopoly on processing and refining rare earths — not just mining them — means that even if other countries dig up the ores, they'll still need China to process them. Which is why India's current push isn't just policy — it's necessity. The Road Ahead While China refines 90% of the world's rare earths, India is still building capacity. But the groundwork is being laid — with diplomatic ties, budgetary commitments, and strategic focus. The success of the NCMM could determine whether India emerges as a resilient alternative or remains vulnerable to future supply shocks. With global demand for EVs, semiconductors, and green energy tech rising, the stakes couldn't be higher. In this global battle for minerals that power the future, India is no longer on the sidelines. It's suiting up — and firing on all cylinders.
Time of India
3 days ago
- Business
- Time of India
Batteries, EVs under threat? India fires on all cylinders for rare earths amid China's tightening grip
As China tightens its stranglehold on the global supply of rare earth elements , India is shifting gears — fast. From forging new partnerships in Central Asia to finalising an ambitious incentive scheme for mineral recycling , India is pushing ahead to secure its place in the global race for critical minerals . At the recently held India-Central Asia Dialogue in New Delhi, India and five Central Asian nations expressed mutual interest in jointly exploring rare earths and other critical minerals. In a joint statement, they called for an early meeting of the India-Central Asia Rare Earth Forum, signalling growing geopolitical urgency to diversify away from China's near-monopoly. China's chokehold spurs urgency The backdrop to these moves is no coincidence. Over the past year, China has weaponised its control over rare earths, placing several critical minerals and magnets under strict export licence regimes. These are the very components vital for electric vehicles , wind turbines, semiconductors, and even military-grade systems. Beijing's message is clear: if the West can play export control hardball, China has its own scalpel and it's now using it with surgical precision. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Direct Shopping From Adidas Franchise Store, Up To 50% Off Original Adidas Shop Now Undo While the U.S., Europe, and Japan scramble to find alternative supply lines, India sees an opening — and it's moving to capitalise. From mission to momentum Under the Rs 34,300 crore National Critical Mineral Mission (NCMM), India aims to become self-reliant in sourcing and processing critical minerals like lithium, cobalt, nickel, and rare earth elements. Joint Secretary in the Mines Ministry, Dinesh Mahur, announced that an incentive scheme for recycling these minerals is in its final stages. The Union Budget has already earmarked Rs 1,500 crore specifically for this effort. Live Events Public Sector Enterprises are expected to contribute Rs 18,000 crore to the mission. With a sharp focus on domestic exploration, overseas block acquisition, and technological R&D, the NCMM is India's boldest bet yet to insulate its industries from global supply shocks. Auto industry feels the heat The urgency is not just strategic — it's also economic. Rare earth shortages are already casting a shadow over India's auto sector, especially electric vehicles (EVs), which depend on permanent magnets for motors. Bajaj Auto has warned that its e-scooter production could be impacted from July if Chinese export delays continue. TVS Motor has echoed similar concerns. According to the Federation of Automobile Dealers Associations (FADA), only a third of its members expect sales growth in June. The rare earth crunch, combined with high inventories and tight financing, has pushed automakers to brace for a cautious month — especially as the EV rollout faces headwinds. China's long game, India's fast track What China is doing today has been decades in the making. The world first saw signs of Beijing's ambitions in 2010 when it temporarily banned rare earth exports to Japan over a territorial spat. By 2020, China had passed its own Export Control Law, giving it sweeping powers to curb exports of materials deemed vital to national security. The law was broad enough to include critical minerals, tech, and even data. Now, with the U.S.-China trade war escalating, rare earths have become Beijing's leverage. Export licenses have slowed, production lines in Europe have paused, and Washington is on edge. China's near-monopoly on processing and refining rare earths — not just mining them — means that even if other countries dig up the ores, they'll still need China to process them. Which is why India's current push isn't just policy — it's necessity. The Road Ahead While China refines 90% of the world's rare earths, India is still building capacity. But the groundwork is being laid — with diplomatic ties, budgetary commitments, and strategic focus. The success of the NCMM could determine whether India emerges as a resilient alternative or remains vulnerable to future supply shocks. With global demand for EVs, semiconductors, and green energy tech rising, the stakes couldn't be higher. In this global battle for minerals that power the future, India is no longer on the sidelines. It's suiting up — and firing on all cylinders.
Time of India
3 days ago
- Business
- Time of India
Incentive scheme for recycling of critical minerals on anvil, says Official
The incentive scheme for recycling of critical minerals, such as copper, lithium, nickel, cobalt and rare earth elements, is in the final stages, a mines ministry official said on Friday. Tired of too many ads? go ad free now The Union budget has allocated Rs 1,500 crore for recycling of critical minerals under the National Critical Mineral Mission (NCMM), Joint Secretary in Mines Ministry Dinesh Mahur said during an event here. He said, "the incentive scheme for recycling is in its final stages." Earlier, the government had approved a Rs 16,300-crore National Critical Mineral Mission, envisaging a total outlay of Rs 34,300 crore spread over seven years, with an aim to achieve self-reliance and accelerate India's journey towards green energy transition. Public sector enterprises are expected to contribute Rs 18,000 crore to the mission, which aims at promoting exploration of critical minerals within the country and at offshore locations. Critical minerals such as copper, lithium, nickel, cobalt and rare earth elements are essential raw materials required to fuel the growth of rapidly-growing clean energy technologies and their expanding uses ranging from wind turbines and electricity networks to electric vehicles and battery manufacturing. Demand for these minerals is growing with clean energy transitions gathering momentum worldwide. The major objectives of this mission are to increase exploration, reduce import dependence, acquire mineral blocks overseas, develop technologies for processing of critical minerals and recycle the minerals.
Reuters
3 days ago
- Business
- Reuters
India incentives for critical minerals recycling in final stages of approval, government document shows
NEW DELHI, June 6 (Reuters) - India's incentive scheme for recycling of critical minerals is in the final stages of getting approvals, as the country strives to meet its clean energy goals, according to a mines ministry government document. The scheme, which will includes lithium-ion batteries, will give capex subsidy to eligible recyclers, according to the document shared with reporters at an event. India is planning to launch incentives for the recycling of 24 critical minerals this year, including lithium and cobalt, Reuters reported in April.
Yahoo
17-05-2025
- Business
- Yahoo
Guinea cancels licences of up to 53 mining companies amid resource nationalism
Guinea has cancelled the licences of up to 53 mining companies, signalling increased resource nationalism, reported Reuters, citing government sources. The trend of resource nationalism in the region follows military coups in countries such as Niger, Mali and Burkina Faso since 2020. The cancelled licences span a range of operations including bauxite, gold, diamond and graphite. However, industry insiders suggest that none of the companies involved are significant producers within Guinea's mining sector, which is primarily dominated by large international companies. The reasons behind the revocation of licences have not been disclosed by the government, nor has there been any indication as to whether larger mining operations could face similar actions. A source from the mines ministry hinted: "We have been working for some time on cleaning up the land registry. We can say that this falls within the same framework." Guinea is renowned for having the world's largest bauxite reserves, a vital component in aluminium production, and is also a significant exporter of gold and iron ore. In 2024, the country exported approximately 146.4 million tonnes (mt) of bauxite, according to a notice from the Mines and Geology Ministry on LinkedIn. Despite the revocation of licences, major bauxite producers in Guinea are expected to mine more than 200mt this year, a 35% increase from the previous year's record figure. While the cancellation of licences aligns with regulatory practices, it could also be perceived as a cautionary message to mining operators, the report stated. Earlier this month, Guinea commenced the process to revoke Emirates Global Aluminium's mining licence in the country. "Guinea cancels licences of up to 53 mining companies amid resource nationalism" was originally created and published by Mining Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
