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Rare earths on table as India, China agree to discuss trade
Business Standard
|June 14, 2025
Considers revisiting 2012 rare-earth deal
Even as a proposal has been floated to halt exports of refined rare earth oxide, India is considering a relook into its 13-year-old agreement on this with Japan, two people privy to the matter told Business Standard.
This comes amid uncertainty over permanent magnet supply from China and depleting domestic inventory.
Under a government-to-government (G2G) agreement signed in 2012, Irel (India) Ltd, formerly India Rare Earths Ltd, supplies rare earth oxides or elements to Toyota Tsusho, which processes them for exports to Japan in the form of magnets.
"There has been a request to potentially stop exports to Japan, but we have a long-term G2G agreement. So, we will possibly put some constraints. If we are exporting rare earths to them, they should give something in back. This is just a way for us to reset the arrangement," said one of the people quoted above.
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