PSU MINING COMPANY STOCK PRICE UP AFTER NEWS OF GOVT INCENTIVE SCHEME FOR RARE EARTH MAGNET PRODUCTION

The Government of India has proposed for an incentive scheme towards production of rare earth magnets in India. The proposal has earmarked Rs 6,500 crore for capital expenditure and Rs 800 crore for operational expenditure. This initiative comes as the government aims to reduce dependence on China after the world’s dominant supplier imposed export restrictions in April this year on seven rare earth elements and finished magnets. Under the revised rules, Chinese exporters must secure licences and submit end-use declarations confirming materials won’t be used in defence or re-exported to the US. After this news, share prices of

have gone up in the recent trading sessions as the company is expected to gain benefit from this scheme. The company is a PSU sector engaged in mining of various minerals like lignite, bauxite, flourspar, and manganese. The stock is so far up around 94% in 2025.