Rare earths: Decision on subsidy scheme soon

The government is likely to take a decision on rolling out a scheme to subsidise domestic production of rare earth magnets in the next 15-20 days, Union minister HD Kumaraswamy said on Tuesday.

- NITIN KUMAR

THE GOVERNMENT IS likely to take a decision on rolling out a scheme to subsidise domestic production of rare earth magnets in the next 15-20 days, Union minister HD Kumaraswamy said on Tuesday.

"We have been in discussions with the ministry of mines for providing incentives for rare earth magnet processing. The final decision will be taken within 15-20 days," the minister said.

To reduce dependence on China, India is also exploring the possibility of sourcing rare earth oxides from countries such as Japan and Vietnam, which have both reserves and active mining operations.