2025-06-16
India has asked state-owned mining company Indian Rare Earths (IREL) to suspend a 13-year-old rare earth export agreement to Japan and guarantee domestic rare earth supply, two people familiar with the matter told Reuters recently, aiming to reduce India’s dependence on China. The company also hopes to develop India’s rare earth processing capabilities.
Under a 2012 government agreement, IREL supplies rare earths to Toyota Rare Earths India, a subsidiary of Japanese trading company Tovota Tsusho, which processes rare earths (mainly neodymium) and exports them to Japan for magnet manufacturing.
Customs data show that in 2024, Toyota Rare Earths exported more than 1,000 tons of rare earth materials to Japan, which is equivalent to one-third of the 2,900 tons mined by IREL.
Critical Metals is expected to receive a $120 million loan to finance Greenland rare earth project
According to Reuters, the U.S. Export-Import Bank (EXIM) said that Critical Metals Corp. has met the initial requirements for a $120 million loan with a term of 15 years to finance the company’s Tanbreez rare earth project in southern Greenland.
June 17, 2025
