India to reduce dependence on China denounced 450 million to develop three million tons of rare earth project

According to reports, the Indian state-owned company plans to invest rare $ 72 million (about 450 million yuan) to develop a reserve of about 300 million tons of rare earth project is expected to reduce the dependence of some importing countries of China's rare earths.

According to industry publication Metal MetalMiner reported Wednesday that the new plant from the 100 million tons of heavy mineral sand beach 470 km Orissa beach at extracting rare earth materials located. A series of new trends in the rare earth industry in India shows that as the world's second largest producer of rare earth, rare earth, India has decided to increase production.

Article, the recent increase in REE metal import India meant to enhance India's domestic demand for rare earths. And China's recent cancellation of tungsten, molybdenum export quota restrictions, the market speculation that the rare earth export quota will be relaxed, thereby stimulating India to accelerate the development of rare earth production.

Analysts said that at present, China's rare earth production accounts for more than 90 percent of global output, increase India's rare earth production in other countries to reduce dependence on Chinese rare earth. But the heavy sand mining rare earth global impression of the extent to which rare-earth prices will depend on the final amount of mining, and the current production of the new plant has not yet started, is still difficult to have a big impact on the domestic rare earth market in the short term.


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