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Gujarat Mineral Development Corporation (GMDC) has signed a partnership with the University of Cambridge to establish what it describes as India's first AI-powered Rare Earth Observatory.
{alcircleadd}The project will be developed over two years with an investment of GBP 600,000 (USD 805,965) and will operate from GMDC's International Centre of Excellence in Mining (iCEM).
According to the company, the observatory will monitor the rare earth value chain from mining and processing to downstream manufacturing. It will also track prices, processing capacity, supply disruptions and other developments affecting global rare earth markets.
GMDC is collaborating with the Institute for Manufacturing (IfM) at the University of Cambridge on the project.
The company said the platform will provide businesses and policymakers with data and insights on global rare earth markets and supply chains.
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Demand for rare earth materials has been rising due to their use in electric vehicles, renewable energy systems, electronics, permanent magnets and defence applications.
GMDC noted that India's demand for rare earth permanent magnets is expected to increase significantly by 2030, creating a greater need for market intelligence and supply chain visibility.
The company said the observatory will also support procurement planning and strategic stockpiling decisions related to critical minerals.
The initiative forms part of GMDC's broader expansion into the critical minerals sector. Earlier this year, the company partnered with NMDC to explore opportunities across the rare earth value chain, including exploration, mining, processing and downstream activities.
GMDC expects the observatory to help industry participants monitor developments in the global rare earth market as countries increasingly focus on securing supplies of critical minerals.
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