Sarada Bhushan Mohanty on Construction Innovation

*Sarada Bhushan Mohanty on Construction Innovation: Leading India’s Rare Earth Revolution As India charts its course toward self-reliance in critical minerals, Sarada Bhushan Mohanty, Chairman and Managing Director of IREL (India) Limited, is steering the only domestic producer of rare earth materials into uncharted territory. With a career spanning over three decades across law, finance, and strategic leadership in organizations like Tata Long Products, Vedanta, and NALCO, Mohanty brings a unique lens to an industry often overlooked but crucial to national security and technological advancement.

In an exclusive interview with our publication, Mohanty shares how his multidisciplinary expertise is driving transformation at IREL, from sustainable mining practices to building a robust rare earth value chain in India.

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our publication: You've had a long career across sectors – what drew you to IREL specifically?

Sarada Bhushan Mohanty: When I joined IREL in 2022, it was clear that this organization sits at the intersection of strategy, sustainability, and sovereignty. As the sole rare earth producer in India and a government-owned entity under the Department of Atomic Energy, we're not just a company – we're part of the nation’s critical infrastructure. That sense of purpose, combined with the opportunity to drive innovation and modernization in a historically underdeveloped segment, made it compelling.

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How do you view IREL’s role in India’s broader economic and strategic goals? Rare earth elements are the building blocks of modern technology – from electric vehicles to defense systems. For India to reduce import dependence and strengthen its high-tech manufacturing base, securing a domestic rare earth supply is non-negotiable. We’re working closely with institutions like Bhabha Atomic Research Centre to ensure our operations align with national priorities around energy transition and self-reliance.

Our mandate extends beyond production; we are custodians of a resource that could define India's technological future.

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Can you walk us through IREL’s approach to sustainable mining? Absolutely. Mining, especially of radioactive heavy mineral sands, comes with challenges. But what sets us apart is our commitment to zero carbon footprint processes and full environmental restoration post-extraction.

We use a combination of mechanized and manual methods – all environmentally compliant. The key innovation lies in post-mining land rehabilitation. Once the heavy minerals are extracted, the area is refilled, reforested, and returned to ecological balance within months. This ensures minimal disruption to local ecosystems.

The processing itself relies on electrostatic, magnetic, and gravity separation techniques, which are inherently clean and do not involve harmful emissions. That's a major advantage over traditional mining practices globally.

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IREL has seen impressive growth since 2016. What’s behind that momentum? From 2016 onward, IREL underwent a strategic transformation. We optimized our processes, invested in technology, and improved productivity significantly. Our compound annual growth rate in revenue has been around 30%, and production has grown at about 20% CAGR. Last year marked a milestone – we achieved record output and turnover.

What drives this is a focus on operational excellence, stakeholder alignment, and aligning our output with market demand. We’ve also diversified our product portfolio and explored new applications for rare earths in clean energy and electronics.

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What innovations are shaping IREL’s future? Our next big leap is creating a complete ecosystem for rare earth metals, alloys, and magnets – something India hasn’t had before. Historically, we’ve only produced high-purity oxides. But to compete globally and support local industries, we need to move up the value chain.

That’s why we established a technological demonstration plant in Bhopal – the first of its kind in India. It’s currently producing lanthanum and cerium metals and exploring recovery from end-of-life electronic products. This circular economy approach will be vital as global demand for critical minerals surges.

We’re also developing capabilities in ilmenite and titanium processing, which have wide industrial applications.

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How does leadership shape such transformation? Leadership at IREL today is about vision, agility, and collaboration. My background in law and accounting has helped me understand compliance, risk, and regulatory landscapes – essential in an industry as sensitive as ours. But beyond technical skills, it’s about fostering a culture that embraces innovation while staying rooted in responsibility.

We’re investing heavily in R&D and partnerships with academic institutions and global players. We’re also upskilling our workforce to operate cutting-edge equipment and think strategically about sustainability.

At the core, it’s about empowering people to drive change from within.

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IREL is state-owned. How do you navigate public sector dynamics while delivering private-sector efficiency? IREL operates in a unique space – fully owned by the government but with commercial objectives. This gives us both the stability of public backing and the agility to innovate like a private enterprise.

The key is transparency, accountability, and performance orientation. We set clear targets, measure progress rigorously, and incentivize results. The government’s support has enabled us to take long-term bets on technology and infrastructure – things that may not show immediate returns but are crucial for India’s strategic future.

It’s about balancing mission-driven goals with market realities.

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Looking ahead, what are your strategic priorities for IREL? First, scaling up our rare earth metal production and establishing a viable supply chain in India. Second, expanding our footprint in titanium and ilmenite – both high-value segments with growing demand.

Third, we’re looking at international collaborations and exports. While domestic security remains our priority, there’s potential to position IREL as a reliable global supplier, especially given our eco-friendly processes and quality standards.

Finally, talent development and digital transformation. We’re adopting AI, automation, and data analytics to enhance decision-making and operational efficiency.

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Any advice for leaders navigating complex, mission-critical industries? Stay curious, stay grounded. Industries like ours require deep domain knowledge, but they also demand a willingness to evolve. Leaders must be equally comfortable with compliance and creativity, governance and growth.

Build bridges – between departments, between generations, and between tradition and innovation. And never lose sight of the bigger picture – whether it’s national interest, sustainability, or long-term value creation.

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Final thoughts on the road ahead for IREL? IREL is entering a defining decade. With India’s push toward clean energy, electric mobility, and indigenous manufacturing, the demand for rare earths will only grow. Our job is to ensure India doesn’t miss this wave – and not just ride it, but lead it.

We’re no longer just a mining company – we’re a catalyst for India’s high-tech ambitions. And that’s a legacy worth building.

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As IREL continues to redefine its role in India’s industrial landscape, Sarada Bhushan Mohanty’s leadership exemplifies how strategic thinking, sustainability, and innovation can transform even the most traditional sectors. Under his guidance, the company is laying the foundation for a rare earth-powered future – one that’s made in India.*