No. of Indian companies awaiting China’s approval for rare-earth magnet imports doubles in 2 weeks
New Delhi: The number of Indian companies awaiting import licences from China’s Ministry of Commerce for rare-earth magnets has nearly doubled in just two weeks, rising from 11 to 21, according to a report by The Economic Times.
Among the new entrants to the list are major industry players such as Bosch India, Marelli Powertrain India, Mahle Electric Drives India, TVS Motor, and Uno Minda. These companies have reportedly completed the required end-user certification and submitted all relevant documents to their Chinese suppliers, but are still waiting for licence approvals from Chinese authorities.
China introduced new export controls on April 4, making it mandatory for companies exporting medium and heavy rare-earth magnets to obtain a licence from the commerce department. Buyers must also provide an end-user certificate affirming that the materials will not be used in the production, storage, or delivery of weapons of mass destruction or related systems.
Industry executives have raised concerns over the growing backlog. India currently imports rare-earth magnets worth approximately $200 million annually, primarily for automotive and industrial uses. Data from the Society of Indian Automobile Manufacturers (SIAM) indicates that around 52 Indian companies source these magnets from China for use in domestic automobile production.
Electric vehicle (EV) manufacturers are particularly vulnerable. Rare-earth magnets are essential components in EV traction motors and electric power steering systems. According to estimates by ICRA, inventories of these crucial components could be exhausted by mid-July if import delays persist. The agency has urged the industry to initiate urgent contingency planning to mitigate potential supply disruptions.
In electric two-wheelers, motors are priced between ₹8,000 and ₹15,000, with rare-earth magnets accounting for nearly 30% of the total motor cost. The mounting uncertainty over imports has therefore raised alarms across the sector, particularly as the EV industry continues to expand in line with India’s clean mobility goals.
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4 workers die after being buried under coal slurry in Jharkhand's Dhanbad
Dhanbad (Jharkhand) (PTI): At least four workers died after being buried under coal slurry in Jharkhand's Dhanbad district on Saturday, a police official said.
The incident took place at Moonidih coal washery in the command area of Bharat Coking Coal Limited (BCCL).
"Bodies of all four workers were dug out of debris during a rescue operation," Putki police station in-charge Waqar Hussain told PTI.
The incident took place when coal slurry was being loaded into trucks by workers, during which a large chunk of slurry fell and trapped several workers underneath, officials said.
The deceased have been identified as Manik Bauri, Dinesh Bauri, Deepak Bauri, and Hemlal Gope.
Meanwhile, the family members of the deceased and local villagers placed the bodies in front of the washery gate and began a protest.
They demanded compensation, jobs for dependents and action against those responsible for the incident.
Police and administration officials are trying to pacify the protesters, an official said.
