Mumbai, July 16 -- Nexon Geochem of Hyderabad has signed a memorandum of understanding with Giredmet, the State Research and Design Institute of Rare Metal Industry under Russia's Rosatom State Corporation, to build integrated rare-earth processing and downstream facilities. The partnership was announced in a company statement and will draw on Giredmet's nearly century of rare metal expertise alongside Nexon Geochem's advanced materials capabilities. The collaboration is presented as a strategic move to develop domestic rare-earth processing capacity and to build end-to-end manufacturing for critical magnet technologies.
An immediate objective is to establish a scalable sintered Neodymium Iron Boron (NdFeB) permanent magnet manufacturing facility in Hyderabad, intended to link rare earth oxide inputs through to finished magnet production. The company indicated it was poised to reach a benchmark production capability of 1,200 t per annum by FY 2033, reflecting a staged scaling approach from laboratory to pilot and then to commercial lines. The project is described as positioning the firm among the first integrated rare earth oxide-to-magnet platforms in India and as a foundation for wider industrial adoption.
The pact covers joint research and development of deep-processing technologies, technology transfer, analytical control methodology development and academic programmes to support skills and innovation. NdFeB permanent magnets are set out as essential components for electric vehicles, wind turbines, defence systems, robotics and advanced electronics, underpinning the energy and technology transition and industrial competitiveness. Export curbs by China during 2025-26 exposed vulnerabilities in supply chains for these critical inputs and reinforced policy focus on localised value chains.
The announcement is framed as addressing India's reliance on imports for inputs across electric vehicle, wind and defence manufacturing while creating a domestic platform for testing, validation and scale-up of separation, refining and magnet manufacturing processes. India possesses the world's third-largest rare earth reserves, estimated at nearly seven million tonnes (mn t), yet commercial-scale separation and industrial magnet production remain limited, according to the statement. The partners plan joint validation, scaling and educational initiatives intended to develop deep-processing capabilities, build technical talent and reduce import dependence over the coming decade.
Published by HT Digital Content Services with permission from Construction World.