According to a recent report in India's Mint, Ashvini Magnets, headquartered in Pune, announced that India's first independently constructed rare earth metal plant has officially commenced operations. The plant produces 15 tonnes of rare earth metals per month, covering both light rare earth and heavy rare earth series products, marking a substantive breakthrough in India's rare earth industry chain from ore mining to high-value-added metal processing.
The project relies on technology from the Bhabha Atomic Research Centre, received funding of 17 million rupees from the Ministry of Mines, and took five years of research and development, construction, and commissioning to achieve mass production. The NdPr metal produced by the factory can meet 20%–25% of India's NdPr alloy demand.
NdPr alloy is primarily composed of praseodymium and neodymium, two rare earth elements, with total rare earth content exceeding 99%, neodymium accounting for approximately three-quarters and praseodymium for approximately one-quarter, appearing as silver-gray metal ingots. As the core raw material for NdFeB rare earth magnets, NdPr alloy occupies an important share in magnet material costs. With excellent magnetization strength and magnetic energy product, it endows magnets with superior permanent magnetic performance. NdPr alloy applications are concentrated in high-end manufacturing fields: it dominates in electric vehicle drive motors, enabling high torque and lightweight design, significantly reducing motor volume and weight, greatly improving efficiency, and thereby extending vehicle range; in the medical field, MRI equipment relies on high-stability magnets made from it to achieve human body imaging diagnostics; it is also widely used in generators, sensors, and aerospace devices, serving as an indispensable strategic material in the new energy and high-end manufacturing industry chains.
The localization of NdPr metal has profound significance for India's strategic emerging industries. According to industry estimates, current annual consumption of NdPr metal for NdFeB magnets in India is approximately 750–900 tonnes, of which 80% relies on imports from China. After the new Indian factory reaches full production, it can stably supply 150–180 tonnes per year, covering 20%–25% of domestic NdPr alloy demand, thereby effectively alleviating supply chain risks faced by downstream industries such as electric vehicles, wind power equipment, and medical imaging equipment.
