Nexon Geochem Private Limited accelerated its rare earth processing and magnet manufacturing plans by signing a Memorandum of Understanding (MoU) with Giredmet under Rosatom State Corporation. Through the collaboration, the Hyderabad-based company aims to establish a fully integrated rare earth oxide-to-magnet manufacturing platform and achieve a production capacity of 1,200 MTPA by FY2033.
Building India’s Rare Earth Value Chain
Under the partnership, Nexon Geochem plans to bridge a critical gap in India’s rare earth ecosystem by creating a full-cycle manufacturing platform that covers rare earth oxide inputs, high-purity rare earth metals, advanced compounds and finished sintered NdFeB permanent magnets. As an immediate priority, the company will establish a highly scalable sintered NdFeB permanent magnet manufacturing facility in Hyderabad. This facility is expected to position Nexon Geochem among the first companies in India with an integrated rare earth oxide-to-magnet production capability.
Giredmet Brings Nearly a Century of Expertise
Giredmet contributes almost 100 years of institutional experience in rare metals research, high-purity separation technologies, processing systems and advanced materials development. Consequently, the collaboration extends beyond manufacturing and includes joint R&D for
deep-processing technologies, development of analytical control methodologies, scaling technologies from laboratory to pilot production, validation of rare earth processing technologies and academic and educational cooperation programmes. The project scope covers materials intended for the electronics, chemical and nuclear industries, thereby expanding its strategic industrial relevance.
Rapidly Growing Indian NdFeB Magnet Market
India’s demand for NdFeB permanent magnets is rising sharply due to the expansion of electric vehicles, renewable energy projects and advanced industrial applications. India remains heavily dependent on imports because global supply chains for high-performance NdFeB magnets are concentrated in a few countries.
Reducing Import Dependence
Through its collaboration with Giredmet, Nexon Geochem intends to create an end-to-end domestic manufacturing ecosystem for rare earth magnets. As a result, India could strengthen its critical minerals value chain, reduce exposure to external supply disruptions and develop a competitive domestic source of high-performance NdFeB magnets.
Leadership Perspectives
“Securing the critical mineral value chain is no longer just an economic goal; it is a necessity for global technological resilience. Bringing a fully integrated sintered NdFeB magnet manufacturing facility to life requires world-class technology transfer, and collaborating with an institution that holds nearly a century of rare metal expertise is a major milestone,” informed Praveen Choudhary, Founder, Nexon Geochem Private Limited. “These agreements represent concrete technological roadmaps focused on practical implementation of rare earth magnet production projects and contribute to the technological sovereignty of both countries,” Konstantin Ivanovskikh, Deputy Director for Science and Innovation, Giredmet mentioned.
Why NdFeB Magnets Matter
NdFeB (Neodymium-Iron-Boron) permanent magnets are essential components in electric vehicles (EVs), wind turbines, defence systems, robotics, industrial automation and advanced consumer electronics. Consequently, these magnets have become critical to the global energy transition and the growth of advanced manufacturing industries.
Strategic Importance for India
Recent export restrictions imposed by China during 2025–26 highlighted vulnerabilities in India’s EV, defence electronics and industrial manufacturing supply chains. Although India possesses the world’s third-largest rare earth reserves, estimated at nearly seven million tons, the country still lacks commercial-scale rare earth separation, refining and large-scale industrial magnet manufacturing. As per the press release, Nexon Geochem’s planned integrated facility could become an important step toward establishing domestic capabilities in rare earth processing, refining and NdFeB permanent magnet production, supporting India’s long-term ambitions in clean energy, mobility and strategic manufacturing.
