The world’s rare earths are being increasingly exploited to make electronic gadgets, solar cells and even space satellites.
And they’re being increasingly valuable for the industries they’ve been designed for.
A group of international experts has compiled a list of rare earth metal producers in India that are among the biggest suppliers of the elements in India.
Among them are Mithaland, a privately owned company that produces some 50% of the country’s rare-earths, and Elysium Technologies, a joint venture with the Indian company Lithium.
“India’s rare and valuable rare earth minerals are used in all kinds of devices and products, from industrial products to medical devices, foodstuffs and consumer electronics,” said a statement by the group, which includes former India and US officials and experts.
“The government of India has invested over $5 billion in the development of the Indian rare earth industry.
There are several companies, like Lithium and Mithalands, that are actively exploring their options to acquire rare earth products,” it said.”
India has also been an active participant in international conferences, which include the World Rare Earth Materials Conference (WRCM), where the world’s leading rare earth producers have been showcasing their latest discoveries.
The WRCM brings together more than 30 countries from around the world to discuss the rare earth materials and technologies that they manufacture.”
The list of the world ‘most valuable’ rare earth mining companies was compiled by the United Nations, the World Bank and the IEA (International Energy Agency), which was established in 2007 and is the largest global resource of rare Earth metals.
The WRCC, which has been held in the United States for the last five years, has grown to include more than 20,000 attendees, and the International Union of Pure and Applied Chemistry (UIPAC) has announced its participation as well.
The IEA said that India is the “most active supplier of rare-element resources in the world”, while the World Bank said that “India is the country with the highest annual demand for rare earth resources”.
The Indian government has also announced that it will invest up to $500 million to develop its own rare earth manufacturing plant, which will be located in the northern state of Jammu and Kashmir.
Elyium, the joint venture between Mithiland and Lithium, will also be developing a small-scale production facility in India, it said in the statement.
LITHIUM IS A MEMBER OF THE MOSAIC INSTITUTE OF EXPLORATION, A U.N.-affiliated agency that works to address the world environmental challenges of climate change, water scarcity, and food shortages.
MITHALAND IS A FOUNDATION OF A FUTURE WORLD OF RESEARCH AND DEVELOPMENT THAT ENVIRONMENTS IN CHINA AND THE UNITED STATES HAVE IMPLEMENTED WITH CONSTRUCTION IN THE MOST ADVANCED MULTIPLE METHODS FOR THE PRECISION AND SIMULATION OF ELECTRONIC ELECTRONICS.
In recent years, China and India have begun investing heavily in rare earth production and exploration, and India is likely to become the second largest producer of rare metal in the near future, after the United Arab Emirates, according to a 2014 report from the International Energy Agency.
China has recently launched the first of the massive Rare Earth Minerals Initiative (REMI), which aims to extract more than 200 tonnes of rare elements from its arid, aridland and semi-arid regions.
India, on the other hand, has been making strides in its development of new technologies for the production of rare metals, such as carbon capture and storage.
But despite these efforts, India has not overtaken China in the production and mining of rare element, said Gaurav Bhatt, a professor of mineralogy at New Delhi University, India.
“For rare earth, the Chinese are leading the pack because they have developed new technologies,” he said.
“The US is the third place in terms of the production, and Japan is behind in the technology, so there is a lot of space for India.”
Bhatt said that while the US and Japan have been producing rare earth for years, India is now on a different path.
Indian rare earth miners will need to work with other countries to expand their production, which would be a challenge for the country, Bhatt said.
However, it is unlikely that the country will lose its competitive advantage over China, said Ravi Narain, an economist at the Institute of Development Studies (IDSA) and former member of the Cabinet of India, India’s top economic body.
“China is still the number one producer in the whole world.
The US is also number one, but India is in second place. China’s