India has taken a significant step towards fostering innovation in the mining and mineral sector by allocating grants totaling approximately $723,887 to five startups and MSMEs. This initiative, announced by Union Minister for Mines Pralhad Joshi, aims to fund groundbreaking technologies in critical areas including rare earth extraction and battery material production.
The beneficiaries of these grants include Pune-based Ashvini Rare Earth, which received $181,000 for a pilot plant focused on extracting Neodymium - Praseodymium metal, a key component for NdFeB base permanent magnets. Meerut's Saru Smelting was granted approximately $140,000 to establish a pilot-scale Lithium ion-electro fusion reactor. LN Indtech Services, based in Bhubaneswar, received $48,000 for a project aimed at producing Alumina Hydrates through electrolysis. Cellark Powertech from Cuttack was awarded $205,000 for developing high-purity battery-grade silicon material for lithium-ion battery anodes. Lastly, Shillong-based Caliche was granted $145,000 for the development of software named GARBH for the exploration of Rare-Earth Elements.
This initiative is part of the Ministry of Mines' Science and Technology (S&T) Programme launched to promote research and innovation in the sector. A total of 56 startups and MSMEs participated in the programme, out of which these five were selected based on their milestones. Along with financial support, these startups will receive mentorship and technical advisory support throughout their project period.
This funding is expected to pave the way for significant advancements in India's mining and mineral sector, particularly in the extraction and processing of critical minerals essential for the global tech and renewable energy industries.
