Foreign mining firms assure rare-earth oxide supply under PLI scheme

BHEL had informally reached out to about 20 foreign mining and refining firms to check if they would be able to supply rare-earth oxides to the winning bidders of the scheme, according to a government

Major foreign mining and refining companies have assured the Indian government that they will have sufficient stocks of rare-earth oxides to supply to the winning bidders under the country’s production-linked incentive (PLI) scheme for indigenous manufacturing of rare-earth permanent magnets (REPMs), Business Standard has learnt. 

These international mining and refining companies include UK-based Rainbow Rare Earths and Australia-based Lynas Rare Earths, and Iluka Resources. 

The Ministry of Heavy Industries (MHI) is the nodal ministry for the scheme, which is currently under intense inter-ministerial discussions. The PLI scheme proposes financial incentives, both capital subsidy and sales-based incentives of about ₹7,350 crore,