Visakhapatnam: India has resumed export of rare earth oxides almost 12 years after it stopped producing them.
Consignments of rare earth oxides like Cerium, Lanthanum, Neodymium and Praseodymium that are used in the automobile sector are being shipped out from Vizag port since the past month.
Export of rare earths has gained significance in the backdrop of China which enjoys the monopoly in the sector, restricting its exports over the past few years.
The Japanese owned Toyatsu Rare Earths India Ltd (TREI) had inked an agreement with the Department of Atomic Energy (DAE)’s Indian Rare Earths Ltd (IREL) for the supply of raw materials-mixed rare earths chloride in 2015.
TREI had set up its processing plant at Vizag and Indian Rare Earths Ltd had started supplying the raw material from May this year onwards. In 2011, then PM, Mr Manmohan Singh signed a contract with Japan for the export of rare earth oxides.
