Rare Earths Race: IREL Targets 500 Tonnes of Neodymium.

India is set to ramp up its neodymium production to 500 tonnes by the end of FY27 — a ninefold increase from the current output of 40 tonnes. The expansion drive is being spearheaded by Indian Rare Earths Limited (IREL), a state-owned enterprise under the Department of Atomic Energy (DAE).

Neodymium, a key component in electric vehicles, clean energy technologies, and defence applications, is crucial for India’s strategic industries. IREL aims to scale production to 200 tonnes by the end of this fiscal year and reach 500 tonnes by FY28 through indigenous engineering and process innovations.

The company operates extraction facilities in Odisha and Kerala, producing eight rare-earth elements, including neodymium. With this expansion, India — currently the world’s third-largest producer — is expected to strengthen its global market share, which currently stands at about 5–6%.

News by Rahul Yelligetti.