What rare earth minerals will private companies explore in India?

Private companies will be invited to explore thorium and monazite, key rare earth minerals.

Why is India involving private players in rare earth exploration?

India seeks to enhance self-sufficiency and reduce dependence on foreign suppliers for critical minerals.

Does India have significant reserves of thorium and monazite?

Yes, India holds the world's largest known reserves of thorium and monazite deposits.

Home / Business and Economy / India Taps Private Firms for Thorium, Monazite

India Taps Private Firms for Thorium, Monazite

14 Jan

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Summary

India invites private companies to explore rare earth minerals like thorium.
The nation possesses the world's largest reserves of thorium and monazite.
This move aims to boost India's self-reliance in critical mineral sourcing.

India Taps Private Firms for Thorium, Monazite

India is poised to invite private sector participation in the exploration of its significant rare earth mineral resources, such as thorium and monazite. The nation holds the world's largest deposits of these critical elements, holding an estimated 850,000 tonnes of thorium and 11.93 million tonnes of monazite. This strategic move is designed to bolster India's self-reliance in sourcing essential minerals and reduce its dependence on international markets.

The government intends to proceed cautiously, implementing robust safeguards to manage this sensitive industry effectively. Union Minister of State for the Department of Atomic Energy, Jitendra Singh, highlighted that the involvement of private players will empower the exploration process, which is currently being worked upon with explorations in new locations. He emphasized a guarded approach due to the serious nature of the undertaking.