As part of its strategy to counter China’s monopoly in rare earth element production, in a first, India plans to auction one such rare earth deposit in Rajasthan.
These rare earth elements are used in modern technological devices such as smartphones, solar panels, wind mills and hybrid car components.
“We had a detailed discussion with GSI (Geological Survey of India) and other ministry officials on rare earths in the country. We have asked GSI to speed up geophysical studies and identify the blocks for one such deposit in Rajasthan,” India’s mines secretary Balvinder Kumar told VCCircle. Read more