Strategic Value of Indian Rare Earth Minerals
:: Issue Analysis Strategic value of Indian rare earth minerals R.N. Meshram Chief Mineral Economist at Indian Bureau of Mines war on rare earths minerals is being reignited. Japan, who had problems with supplies of rare earth minerals owing to a friction with China last year, is trying to reduce its A dependency on China, which is taking up more than 90% of the world production of rare earth minerals. The Japanese government and Japanese companies plan to co-develop plans with Vietnam, Mongolia, Australia, and Toyota Tsusho Corporation, a Toyota affiliate, to set up a plant for rare earth minerals. On December 8, 2010, Toyota Tsusho Corporation announced to build a smelting factory for rare earth minerals in Orissa, India, which would begin producing in 2012. The new plant is scheduled to produce 3,000 to 4,000 tons a year. Indian state-owned Indian Rare Earths and JOGMEC (Japan Oil, Gas and Metals National Corporation) are said to be investing in the project. In addition, Shin-Etsu Chemical is interested in producing rare earth minerals. 103 Spring 2011�POSRI Chindia Quarterly ○● State-of-the-art industries need rare earth minerals Rare earths are a group of 17 elements composed of 15 lanthanides, scandium, and yttrium. Rare earths are characterized by high density, high melting point, high conductivity, and high thermal conduction. Rare earth elements (REE) are commonly found together in the earth’s crust, because they share a trivalent charge (+3) and similar ionic radii. The estimated average concentration of the rare earth elements in the earth’s crust ranges from around 150 to 220 ppm.
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