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India Woos Explorers of Rare Earths Used in Missiles and Lasers

  • Government to issue a new policy for private companies
  • India has significant reserves of rare earth minerals
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Photographer: Krisztian Bocsi/Bloomberg

India is set to issue new policy guidelines to encourage more private-sector exploration for the so-called rare earth minerals used in everything from mobile phones to lasers and cruise missiles.

The framework due by the end of June will demarcate a total area of 1,000 square kilometers (386 square miles) where companies can search for rare earths, and introduce auctions for the right to explore for the deposits, according to Balvinder Kumar, the top bureaucrat in the nation’s Ministry of Mines.