Dr. Deependra Singh: Building a Sustainable Minerals Ecosystem

A Mission to Merge Innovation, Skill Development, and Social Responsibility at IREL (India) Limited!

Mining is not just about digging into the earth. It is about finding value in what lies beneath, and transforming it into something that shapes everyday life. For Dr. Deependra Singh, this idea is has been at the heart of his work. As Chairman and Managing Director of IREL (India) Limited, he had seen sees mining as a gateway to innovation, progress, and social change.

With over 3 decades of experience, Deependra blended deep technical knowledge with a vision for how industry can serve society. Holding an M.Tech in Industrial Design and an MBA in Marketing Management, he has dedicated his career to turning advanced research into practical technology for value addition in heavy minerals. His work is a bridge between scientific discovery and industry transformation.

Under his leadership, IREL has evolved into more than a mining company. It is a hub where technology meets efficiency, and where innovation drives sustainability. Deependra has pioneered best practices and guidelines that have reshaped how the heavy minerals industry works in India. His vision extends to skill development and industrial training, ensuring that the benefits of progress touch communities as well as corporations.

Deependra’s influence stretches beyond IREL. As President of the Rare Earth Association of India and Chairman of several industry bodies, he plays a vital role in shaping policy and collaboration across the minerals sector. His leadership reflects a rare combination of technical mastery and a commitment to human progress.

For Deependra, mining is not simply an industry. It is a mission; to transform resources into progress, technology into opportunity, and leadership into lasting change.

Defining a Vision Through Challenge

When Deependra assumed leadership at IREL in December 2015, the company was facing a critical phase. Financial performance showed losses, and production and mining operations reflected uncertainty. Industry outlook offered minimal signs of improvement, while senior leadership approached retirement, creating an impending gap in experience.

At the same time, national demand for rare earth materials began to rise, bringing higher expectations for the company’s role. Deependra embraced this period as a defining challenge. He crafted a clear vision and strategic roadmap for advancing the rare earth sector, positioning it as a vital contributor to the country’s growth and long-term development.

Recognition as a Visionary Leader

Being acknowledged as one of “The Most Visionary Business Leaders to Watch in 2025” carried deep significance on both personal and professional levels. Such recognition reflected the impact of consistent effort and strategic thinking.

It affirmed that the path taken resonated with purpose and inspired continued dedication. This acknowledgment strengthened resolve and energized the pursuit of future goals with greater determination and focus.

Preparing for Future Challenges

In a strategic vision, emphasis lay on people, process, and product. Careful attention to each element with a forward-looking perspective ensured readiness for emerging challenges. In terms of process, improvement required adopting efficient development systems that aimed for zero waste while enhancing recovery and productivity.

For people, structured initiatives and resources were essential to strengthen skills and capabilities, ensuring readiness for future demands. Regarding the product, continual refinement based on customer insights and a user-focused approach ensured relevance and value in changing markets. This integrated focus created a resilient foundation for sustained growth and innovation.

Sustaining Continuous Innovation

Innovation was not just about technology; it was about mindset, culture, and constant progress. Deependra believed true innovation extended beyond tools and systems, shaping every part of an organization. It thrived in the pursuit of improvement in industry practices, organizational processes, and product development.

His approach began with staying aware of global trends and understanding evolving needs. By carefully assessing current methods, identifying opportunities for enhancement, and encouraging creative freedom, he ensured research and development teams had the autonomy to explore without restriction. This fostered a culture where evolution and readiness for the future remained a constant priority.

Balancing Risk and Sustainable Growth

Balancing risk with sustainable growth was never accidental; it required intention and structure. Deependra understood this deeply.

He established a dedicated risk management team at the board level, supported by senior leadership, to continuously evaluate potential risks and design strategies to address them. This framework enabled informed decision-making, allowing the business to pursue calculated risks while maintaining steady, long-term growth.

Core Qualities of Visionary Leadership

Deependra identified that the qualities of foresightedness, risk and challenge assessment, inspiration and motivation, creativity and strategic planning, empowerment and adaptability, and the ability to analyze for the least cost route distinguished leadership in today’s business world.

These traits enabled leaders to guide their organizations with clarity, purpose, and efficiency while adapting to evolving challenges.

Mentorship as a Path to Future Leadership

Deependra viewed mentorship and knowledge-sharing as the foundation for forming future leaders. He established a mentorship network that connected young professionals with senior leaders who addressed a wide range of queries.

The system included rotation among mentors, ensuring equal opportunity for knowledge exchange. Future business leaders received exposure to the latest tools in HR management, which strengthened their skills and prepared them for leadership roles.

Balancing Adaptability with Long-Term Vision

To remain adaptable to technological and market change, Deependra fostered an organizational culture that clearly distinguished the internal environment from the external environment in which the company operated, creating an insulating layer between the two. Executives responsible for the internal environment strictly followed established processes, while those handling the external environment enjoyed flexibility and adaptability to changing circumstances. A periodically structured interaction between these two layers ensured responsiveness to technological and market shifts.

Deependra actively participated in various trade bodies such as CAPEXIL and FIMI, serving on management committees to strengthen networking and encourage dynamic interactions. He also contributed as a member of the Research Council of CSIR NIIST and CSIR IMMT, promoting collaboration in research and development, and as a member of the Skill Council Board, contributing to skill development. These efforts ensured a balanced alignment of internal systems with external demands, enhancing the company’s ability to remain relevant and forward-focused.

Emerging Forces Shaping the Future of Business

In 2025, developed nations were increasingly aspiring toward technical superiority. The acquisition of critical minerals and materials, along with the capability to make them accessible to industries in usable form, was likely to shape the business landscape. Ongoing disruptions continued to create pathways for this evolving environment.

Vision for India’s Rare Earth and Critical Mineral Future

Deependra observed that in India, the Rare Earth facility was established in 1950. However, due to minimal usage, the sector had shown limited growth. He envisioned India becoming a leader in this segment by creating a comprehensive ecosystem within the supply chain.

Drawing on similar expertise, he believed the critical mineral sector could advance at a rapid pace, enabling India to achieve a respected position in the segment on a global scale.

Words of Wisdom

Deependra advised aspiring entrepreneurs and leaders to focus deeply, immerse themselves completely, develop clear insight, and excel in their chosen fields, leaving no room for flaws to emerge.

Defining Visionary Leadership – In His Words

“As visionary leaders, we imagined a future others could not yet see and ignited the passion to achieve it. We crafted a compelling vision that united people, inspired innovation, and drove bold change. By fostering collaboration, empowering creativity, and instilling confidence, we transformed strategy into action and ambition into reality. Together, we did not just adapt to the future; we shaped it.”

Transforming IREL: A Decade of Growth and Innovation

Since assuming the role of Chairman and Managing Director of IREL (India) Limited on December 1, 2015, Shri Deependra Singh guided the organisation through a period of remarkable transformation until his superannuation on November 30, 2024. Under his leadership, the CPSE achieved significant advancements in finance, technical capabilities, project management, business development, sales and marketing, and human resource development. The company expanded both horizontally and vertically, establishing first-of-its-kind strategic plants in the country. IREL achieved an “Excellent” MoU rating for seven consecutive years from 2017-18 to 2023-24 during his tenure.

During this period, the company’s sales turnover increased approximately sixfold, net worth grew more than threefold, and exports rose nearly fivefold. Profit before tax shifted from a deficit of Rs. 111.23 crore in 2015-16 to a positive Rs. 1345 crore in 2023-24, with a sustained year-on-year growth at a CAGR of 24 percent.

Shri Dr Deependra Singh played a key role in establishing the first Rare Earth Permanent Magnet Plant (Sm-Co) based on indigenous home-grown technology, meeting a strategic requirement of the nation. He also envisioned and led the development and establishment of the Rare Earth & Titanium Theme Park (RETTP), the first facility of its kind in the country, producing RE metal, LED, phosphor, and recycling products based on scientifically proven laboratory concepts. A brownfield expansion project at the flagship unit OSCOM doubled the capacity of the Mineral Processing Plant.

Rare earth extraction, separation, and refining plants became operational, making critical rare earth materials available to the domestic industry. He initiated a Technology Demonstration Plant for producing 4N pure titania and zirconium oxy-chloride for nuclear applications using lower-grade zircon from eastern mines. Underutilised railway siding capacity was developed into a Product Flow Terminal, and initiatives were taken to support MSME development.

His leadership extended to preparing a strategic management plan for the overall development of the CPSE with a focus on sustainability. He established joint ventures with Odisha and Tamil Nadu state PSUs to optimise strengths and resources and to leverage critical mineral reserves. He provided R&D leadership for developing processes to extract heavy rare earth elements at trace levels and set up production facilities for heavy rare earths such as Dysprosium and Gadolinium. He also spearheaded the development of RE-based thermal barrier coatings as an import substitution strategy and strengthened the quality management system, achieving NABL certification for all IREL laboratories.

IREL witnessed comprehensive growth under his stewardship across CSR initiatives, HRD and welfare measures, expenditure rationalisation, research and development, system building, and policy reinforcement. Numerous HR initiatives, including talent management, motivation studies, assessment centres, and PCMM studies, were implemented. Programmes for waste management, integrated water management, green belt creation, energy efficiency, and safety management were also successfully executed.

With a futuristic vision, he facilitated a joint venture agreement for establishing a titanium slag manufacturing facility in collaboration with UKTMP, Kazakhstan.