India is considering creating a strategic reserves of important minerals such as rare meanings required for defense production, so that they can be used in the event of emergency. Senior Defense Ministry officer Rajesh Kumar Singh gave this information at an event in New Delhi on Saturday.
This is the first time India has made public the plan to create such strategic reserves. Important military equipment such as missiles, aircraft, radars and warships require these minerals and may have a serious impact on defense preparations if decreased.
China’s control over rare meaning
From April this year, China stopped exporting rare minerals, which stopped their supply. These include Rare Earth Magnets, including 90% of China’s global control. This affected a large industry like electric vehicle and wind energy. Although China has recently relaxed these sanctions, its control over the market has forced western countries to find alternative suppliers.
Mining of ‘Rare Earth’ will be faster in India
The Government of India has already approved a scheme of Rs 1,500 crore, in which the batteries and e-waste will be encouraged to recycle important minerals. This month, India has declared rare economies as strategic projects, which will speed up the process of approval and mining will be easier. Rajesh Kumar Singh said, ‘India has a good stock of important minerals and we will be able to use them better in future.
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