Construction Industry News
The state-run GMDC says it is considering conducting a study to determine the economic feasibility of setting up a rare earth processing unit in Gujarat's Chotaudepur district. Rare Earths (REE), also known as rare earths, are crucial for the development of green energy technologies such as permanent magnets for electric vehicles and wind turbines and LEDs.
Gujarat Mineral Development Corporation (GMDC) "is studying conducting an exploratory study to determine the economic viability of the project and to outline at least one possibility to develop the deposition processing plant in Ambadongar, Chotaudepur district in Gujarat state in India," the company said in a statement.
The company also plans to conduct a pre-economic assessment for the Ambadongar deposit, which will include a process flow design and all relevant tests for rare earth element oxide breeding and production.
“We at GMDC will ensure the establishment of a complete value chain for REE elements, estimating the investment required for companies with potential returns over time in the state,” said the chief executive of the state. the company, Roopwant Singh.
Rare earth elements are widely used in advanced technology products and also have commercial, industrial and military applications. China has a monopoly in the segment, meeting 95 percent of global demand.
