India Plans Incentive Scheme to Recycle Critical Minerals

Minerals under consideration for recycling include neodymium, dysprosium, terbium and samarium

- Swarnali Mukherjee & Rituraj Baruah

Amid concerns over rare earth magnet supplies from China, the Union ministry of mines is finalizing an incentive scheme for recycling critical minerals that are used in their manufacturing, top government officials said.

The minerals under consideration are neodymium, dysprosium, terbium and samarium.

Speaking to reporters in Delhi on the sidelines of a seminar on critical mineral processing, V.L. Kantha Rao, secretary to the ministry of mines, said that a scheme with an allocation of about ₹1,500 crore is at the approval stage with the ministry but will also require the nod of the Union cabinet.

"We have thought of incentivizing the recycling of critical minerals. Rare earths are part of critical minerals. If someone says I can recycle old permanent magnets, which is very difficult and says that I would recycle neodymium or one of these four rare earths, then we will incentivize them. The scheme is yet to be approved. It's in the process of seeking approval," Rao said.