Nexon Geochem partners with Russia's Giredmet to strengthen India's rare earth processing ecosystem
- IBEF
- July 14, 2026
Hyderabad-based Nexon Geochem has signed a Memorandum of Understanding (MoU) with Giredmet, the State Research and Design Institute of Rare Metal Industry under Russia's Rosatom State Corporation, to develop integrated rare earth processing and downstream manufacturing capabilities in India. The partnership aims to strengthen India's critical mineral value chain by establishing a full-cycle platform spanning rare earth oxide processing to the production of high-value permanent magnets. As part of the collaboration, Nexon Geochem plans to establish a highly scalable sintered Neodymium-Iron-Boron (NdFeB) permanent magnet manufacturing facility in Hyderabad and targets a production capacity of 1,200 metric tonnes per annum (MTPA) by FY33. The partnership supports India's efforts to build domestic capabilities in critical minerals and reduce dependence on imports for strategic sectors such as electric vehicles, renewable energy, defence, robotics and advanced electronics.
The collaboration will focus on joint research and development of deep-processing technologies for rare and rare-earth metals, development of analytical control methodologies, technology validation, pilot-scale production and academic collaboration. India possesses the world's third-largest rare earth reserves, estimated at nearly seven million tonnes, creating significant opportunities to strengthen domestic processing and value addition. The initiative comes at a time when global supply chain disruptions have highlighted the importance of developing resilient critical mineral ecosystems. By combining advanced technology with domestic manufacturing, the partnership is expected to support the growth of India's clean energy, electric mobility and high-technology industries while reinforcing the country's ambition to become a global hub for critical mineral processing and advanced materials manufacturing.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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