Govt’s Rs 7,280 crore rare earth magnet scheme draws 20 bids, including L&T, Coal India, ReNew

Twenty bids were received for the government’s rare earth magnet manufacturing scheme. This initiative aims to establish 6,000 metric tonnes of domestic production capacity. The scheme will support industries like electric vehicles and renewable energy sectors. It seeks to build a complete value chain from oxide to finished magnets. The program will run for seven…

Government plans to set up critical minerals processing parks across 4 states

India is embarking on a transformative journey with plans for four specialized critical mineral processing parks in strategic states, emphasizing lithium and nickel—essential components for battery production. Spearheaded by state governments, this initiative aims to harness central technical support and is in line with the National Critical Mineral Mission’s vision for self-reliance, propelling the country…