India to increase production of rare earth magnets due to reduced supplies from China

The Indian authorities intend to increase the production of rare earth magnets amid a reduction in supplies from China. This was announced on July 12 by Indian Mining Minister Kishan Reddy.

"The [Indian] government has decided to produce rare earth magnets in Hyderabad," the ANI news agency quoted him as saying.

The minister said that the country is currently actively working on the creation of equipment necessary for the production of rare earth magnets. He added that it will take from three to four months.

"We were 100% dependent on China for the supply of rare earth permanent magnets, but recently China refused to supply us with these materials," Reddy stressed.

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