US EditionRare Earth Magnet Making to Get a ₹1,345 Crore Govt Push
INDIA, JUL 11 – The Rs 1,345 crore scheme aims to produce 4,000 tonnes of rare-earth magnets over seven years to reduce 80% import dependence on China by 2023-24, officials said.
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Explained: India's big push of Rs 1,345 crore for rare-earth magnets to reduce reliance on China
India has announced a Rs 1,345 crore incentive scheme to develop domestic production of rare-earth magnets in a bid to reduce its heavy reliance on China and build a resilient supply chain for strategic and clean-tech industries. The scheme unveiled by the Ministry of Heavy Industries is currently under inter-ministerial consultation and will soon be sent to the Cabinet for final approval. Rare earth magnets particularly neodymium-iron-boron (Nd…
Neo Performance Materials Inc. Awarded New Supply Contract For Permanent Rare Earth Magnets - Canadian Manufacturing
TORONTO — Neo Performance Materials Inc. announced that it has been awarded the supply contract for a new platform of permanent rare earth magnets with a European Tier 1 supplier of electric vehicle traction motors to a major OEM. Both the Tier 1 and OEM reportedly represent new additions to Neo’s growing customer base. These magnets will be supplied by Neo’s new rare earth magnet facility in Narva, Estonia, which is producing and shipping quali…
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