Amid reports that at least 10 applicants are in advanced stages of receiving rare earth licences from China, sources indicate that the industry and the Indian government are pushing for the import of two key materials — dysprosium and terbium — critical for domestic magnet production.
India requires several rare earth elements, especially neodymium, praseodymium, dysprosium, and terbium, primarily for use in permanent magnets. Dysprosium and terbium, two heavy rare earth elements (HREEs) with unique properties, particularly in the realm of magnetism, are not available in extractable quantities in India. While India possesses some rare earth elements (REEs) like lanthanum.