Overview

• Chinese authorities have started processing Indian export license applications for rare earth magnets but approval delays continue to disrupt near-term supplies.
• On July 23, the government confirmed 8.52 million tonnes of domestic rare earth reserves in monazite sands and hard rock formations.
• Union Minister G Kishan Reddy reported enrichment levels of 250 ppm in coal samples and 400 ppm in non-coal strata at Singrauli coalfields under new pilot recovery initiatives.
• The government finalised a Rs 1,345 crore Rare Earth Magnet Processing Scheme and launched the National Critical Mineral Mission to expand refining capacity and support R&D.
• The State Bank of India reports FY25 magnet imports reached $291 million and warns that sustained supply shocks could pressure banks exposed to affected industries.