Parliamentary Panel Urges Funding Boost for IREL to Accelerate Rare Earth Mining

A parliamentary panel has recommended enhanced funding support for IREL (India) Limited to prioritise the exploration and mining of rare earth elements, highlighting their strategic importance for India’s energy transition and advanced manufacturing sectors.

The panel noted that rare earth minerals are critical for renewable energy technologies, electric vehicles, electronics, and defence applications. It stressed that increased financial allocation would enable IREL to scale up mining operations, invest in advanced processing technologies, and reduce India’s reliance on imports.

The recommendation comes amid rising global competition for rare earth resources and supply chain vulnerabilities. Strengthening IREL’s capabilities, the panel said, would be vital for securing domestic availability of critical minerals and supporting long-term national strategic interests.