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Rare-Earth Magnet Production
February 25 , 2026
2 hrs 0 min
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- The Union Minister for Mines announced that India will begin producing rare-earth permanent magnets in 2026 and will set up critical mineral parks in four States.
- The Union Cabinet approved a scheme in November 2025 to manufacture 6,000 metric tons per year with a financial outlay of ₹7,280 crore.
- Rare-earth permanent magnets are used in electric vehicles, renewable energy systems, electronics, aerospace and defence sectors.
- The government will establish critical mineral processing parks in Odisha, Andhra Pradesh, Maharashtra, and Gujarat.
- The government also plans to recover critical minerals from old mobile phones and other electronic waste through recycling.
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