Which of the following statement(s) is/are correct about the ‘Rare Earth Elements’?
⦁ Rare Earth Elements comprise of 17 elements which are classified as light RE elements (LREE) and heavy RE elements (HREE).
⦁ None of the rare earth elements are available in India due to which India is dependent upon China for its 70% needs.
⦁ India has a state-owned company ‘Khan Bidesh India Limited’ which aims to acquire strategic mineral assets such as lithium and cobalt abroad.
Select the correct codes from below -
Explanation - Rare earth elements comprises 17 elements and are classified as light RE elements (LREE) and heavy RE elements (HREE). Some RE are available in India such as Lanthanum, Cerium, Neodymium, Praseodymium and Samarium. Others such as Dysprosium, Terbium, Europium that are classified as HREE are not available in Indian deposits in extractable quantity. Hence, there is a dependence on countries such as China for HREE, which is one of the leading producers of RE with an estimated 70% of the global production. In mid-2020, India, through a newly floated state-owned company, had signed an agreement with an Argentinian firm to jointly prospect lithium. The State-owned company, Khanij Bidesh India Ltd, was incorporated in August 2019. Its mandate is to acquire strategic mineral assets such as lithium and cobalt abroad.
Explanation - Rare earth elements comprises 17 elements and are classified as light RE elements (LREE) and heavy RE elements (HREE). Some RE are available in India such as Lanthanum, Cerium, Neodymium, Praseodymium and Samarium. Others such as Dysprosium, Terbium, Europium that are classified as HREE are not available in Indian deposits in extractable quantity. Hence, there is a dependence on countries such as China for HREE, which is one of the leading producers of RE with an estimated 70% of the global production. In mid-2020, India, through a newly floated state-owned company, had signed an agreement with an Argentinian firm to jointly prospect lithium. The State-owned company, Khanij Bidesh India Ltd, was incorporated in August 2019. Its mandate is to acquire strategic mineral assets such as lithium and cobalt abroad.
