Facts About Rare Earth Magnets (REMs)

Question

Regarding Rare Earth Magnets (REMs), consider the following statements:

  1. They are a type of temporary magnet made from common elements like iron and cobalt.
  2. India is the world's largest producer and exporter of REMs, holding nearly 90% of global production capacity.
  3. REMs are critical components in the manufacturing of electric vehicles, renewable energy systems, and advanced defence technology.

Which of the statements given above is/are correct?

Select an answer
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