India strengthened its strategy to guarantee access to critical minerals such as rare earth lands throughout the country, in response to the recent restrictions imposed by China, to the export of these materials, according to official figures.
“The government began in January of the National Mission of Critical Minerals for Create a self -sufficient and stable structure in the supply of these resources Strategic, ”the last monthly economic report of the Ministry of Finance of India, corresponding to the execution of May, says.
India “took a series of measures to mitigate possible violations”The ministry indicates, among which the national mission of critical minerals (NCMM) is distinguished, the seventh plan, which provides for more than 1200 exploration projects, foreign investment and technology development for production, processing and disposal.
China, what It is concentrated by more than 70% of world production of rare earth elements and the vast majority of its processing in accordance with the OECR, In recent months, he tightened his export policyrequiring license to sell certain magnets and connections.
These restrictions, used in the context of growing commercial tension, included anxiety in countries that depend on these materials for Hold the industries such as an electric carrenewable energy or protection.
India revealed 30 critical minerals As strategic for its economy, and 24 of them are under the direct body of the central government, which will be responsible for the auction for state or private companies.
In addition to increasing your Alliances with Argentina and AustraliaThe report emphasizes that India is the only developing country that is involved in the International Association of Alliance Alliances for Miracle Safety (MSP), the platform headed by the United States to strengthen strategic supplies around the world.
With this announcement, India seeks to reduce its dependence on foreign And to ensure the supply of key resources for your industry in the global context, marked by growing restrictions and competence for strategic resources.
