​Magnetic moment, Pg10

Key Highlights:

• In late 2025, focus is on rare earth elements due to their importance in clean energy.
• Neodymium-iron-boron magnets are crucial for EV motors and wind turbines.
• India launched a ₹7,280-crore scheme to manufacture 6,000 tonnes of sintered rare earth permanent magnets annually.
• Monazite-bearing beach sands are a major domestic source of rare earths in India.

Detailed Insights:

• Rare earth elements are vital for the green transition, but supply chain resilience is a concern.
• China dominates the rare earth supply chain due to its refining capabilities, even with deposits found elsewhere.
• India's magnet manufacturing scheme aims to reduce import dependence and boost downstream manufacturing in EVs, wind components, and electronics.
• Utilizing monazite sands requires careful coordination due to the presence of thorium and the need for waste management.
• The National Critical Mineral Mission needs to translate exploration projects into separation and manufacturing capacity.
• Augmenting midstream capacity and securing long-term offtake agreements are crucial for making magnet production viable.
• The future of the green transition depends on scaling supply chains, maintaining environmental compliance, and distributing risk.

Key Concepts Involved:

• Rare Earth Elements: A set of seventeen metallic elements crucial for various technologies.
• Permanent Magnets: Magnets that retain their magnetism after being magnetized.
• Monazite: A phosphate mineral containing rare earth elements and thorium.
• Sintered Magnets: Magnets made by compacting and heating powdered materials.