Full Form of IREL, History, Application and Importance

IREL, short for Indian Rare Earths Limited, is a government-owned company in India that specialises in the mining and processing rare earth minerals. The company is the largest producer of rare earth minerals in India, and its products used in a variety of industries, including electronics, renewable energy, and aerospace. Rare earth minerals are essential components of modern technology, making IREL a crucial player in the global economy. 

History of IREL

IREL has a rich history dating back to the early 1950s, established as a public sector company by the Government of India with the objective of developing India's rare earth minerals industry. The company, initially known as Indian Rare Earths and Chemicals Limited (IREC), and it operated a rare earths beach sand mining and mineral separation plant at Aluva, Kerala.

Major Milestones and Achievements

IREL has achieved several major milestones and accomplishments over the years, including:

• 1950: IREL, established as a public sector company by the Government of India with the objective of developing India's rare earth minerals industry. 
• 1963: IREL established its first monazite processing plant in Aluva. 
• 1968: IREL started producing rare earth chlorides and oxides. 
• 1980s: IREL diversified its product portfolio and started producing value-added products such as rare earth-based phosphors and magnets. 
• 1992: IREL established a joint venture with Toyota Tsusho Corporation of Japan to produce rare earth magnets in India.
• 2007: IREL established a joint venture with NALCO (National Aluminium Company Limited) to set up a rare earths separation plant in Odisha.
• 2011: IREL signed a memorandum of understanding with Indian Rare Earths and Guangdong Rare Earths to set up a joint venture for the separation of rare earth elements in China.
• 2015: IREL signed a memorandum of understanding with the Department of Atomic Energy to set up a joint venture to extract thorium and rare earths from beach sands in Odisha.
• 2016: IREL established a joint venture with Kvanefjeld AS of Greenland to develop a rare earth project in Greenland.

These milestones and achievements highlight IREL's role in developing India's rare earth minerals industry and its efforts to diversify and expand its operations through joint ventures and partnerships with other companies.

What are Rare Earth Minerals?

Rare earth minerals are a group of 17 chemical elements with unique magnetic, electronic, and optical properties, making them essential components in modern technology. The 17 rare earth elements include scandium, yttrium, and the 15 lanthanides: cerium, dysprosium, erbium, europium, gadolinium, holmium, lanthanum, lutetium, neodymium, praseodymium, promethium, samarium, terbium, thulium, and ytterbium.

Despite their name, rare earth minerals are not rare, and they can found in relatively large quantities in the earth's crust. However, they often found in low concentrations and are difficult to extract and process.

Application of Rare Earth Minerals

Rare earth minerals have a wide range of applications in various industries, including:

Electronics: Rare earth minerals are used to manufacture various electronic components, including magnets, capacitors, and batteries. 

Renewable energy: Rare earth minerals used to manufacture wind turbines, solar panels, and electric vehicle motors.

Aerospace: Rare earth minerals used to manufacture aircraft engines, landing gear, and other aerospace components.

Defense: Rare earth minerals are used to produce military hardware, including missiles, bombs, and radar systems. 

Medical: Rare earth minerals, used in medical imaging and cancer treatment and also in the production of contrast agents for magnetic resonance imaging (MRI) and in radiation therapy for cancer treatment.

Catalytic converters: Rare earth minerals produce catalytic converters for automobiles. These converters help reduce vehicle emissions, which are required by law in many countries.

Glass polishing: Rare earth minerals are used to polish glass, including the lenses of eyeglasses, camera lenses, and mirrors. 

Due to their unique magnetic, electronic, and optical properties, rare earth minerals considered as essential components in many modern technologies, and their demand expected to continue to grow in the future.

Importance of Rare Earth Minerals

Rare earth minerals are important for several reasons, including:

Essential for modern technology: Rare earth minerals are essential components in many modern technologies, including electronics, renewable energy, and aerospace. 

Unique properties: Rare earth minerals have unique magnetic, electronic, and optical properties that make them suitable for a wide range of applications.. 

Limited availability: Although rare earth minerals are not actually rare, they are often found in low concentrations and are difficult to extract and process. This limited availability can make them more expensive and difficult to obtain than other minerals.

Geopolitical importance: The production of rare earth minerals is concentrated in a few countries, including China, which produces more than 80% of the world's rare earths. This concentration of production has raised concerns about the geopolitical implications of rare earth mineral supplies and has led some countries to seek alternative sources of supply.

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