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Private Sector | Multi State - India | PID: 204049
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The Government of India has its focus set on increasing the extraction and refining capacity of rare earth elements (REEs) to establish a solid supply chain for critical minerals used in clean energy products and nuclear power.
Minister of State for the Prime Minister’s Office (PMO) Jitendra Singh, in a Rajya Sabha response on 06 February, 2025 stated, “At the Indian Rare Earths (IREL) Plant in Chatrapur at Ganjam (Odisha), an expansion project has been commissioned in FY25 to increase the annual capacity of mineral production by 2,00,000 tonnes and improve the efficiency of the plant.”
IREL is incorporating new technologies through capital infusion to enhance the production of atomic minerals, including rare earth minerals. This has also spurred economic activity in the region, benefiting local micro, small, and medium enterprises (MSMEs), fostering growth and employment. The company operates plants in multiple locations - Chavara (Kerala), Manavalakurichi (Tamil Nadu), and Chatrapur (Odisha).
In FY24, IREL achieved a production of 5.31 lakh tonne of minerals, marking a 3.3 percent year-on-year growth, the highest production in the company's history. In a significant development, the US Bureau of Industry and Security (BIS) recently lifted restrictions on Indian entities IREL, Bhabha Atomic Research Centre (BARC), and Indira Gandhi Atomic Research Centre (IGCAR).
| Updated on: 20 - Feb - 2025
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