MiniMines Cleantech Solutions is set to develop a critical minerals refining complex in Bengaluru with an investment of INR 3.5 billion. The development follows the company’s signing of a memorandum of understanding with the Department of Electronics, Information Technology and Biotechnology under the Government of Karnataka. The first phase of the project will include a 15,000 metric tonnes per annum refining capacity to strengthen domestic availability of high-purity lithium, nickel, cobalt, copper and graphite for industrial use.
According to details shared at the signing, the planned Giga Critical Minerals Refining Complex is intended to support sectors such as electric vehicles (EVs), renewable energy, aerospace, defence and electronics by providing refined materials that are currently imported. The first phase is expected to generate 13,400 tonnes of annual throughput. The company has stated that downstream value creation could reach roughly INR 3 for every INR 1 generated in output from the refining unit.
The facility will use MiniMines’ patented Hybrid-Hydrometallurgy process for recycling lithium-ion batteries. The company is also developing its HydroMag rare earth element recovery technology, which focuses on recycling rare earth magnets. Plans for the site include a research and development and training centre aimed at supporting skills development and technology transfer in circular mineral processing.
“This MoU marks a major step in India’s journey toward self-reliance in critical minerals. With this refining complex, we aim to build a domestic ecosystem capable of processing and supplying high-purity materials needed for batteries, magnets and other clean energy technologies,” said Anupam Kumar, Co-Founder and Chief Executive Officer, MiniMines Cleantech Solutions.
Once operational, the complex is expected to generate more than 1,500 direct and indirect jobs, with an anticipated annual turnover of about INR 13 billion and around INR 2 billion in goods and services tax revenue. The company has previously secured INR 43 million in grants from Oil India Corporation, the United Nations Industrial Development Organization and ACT Grants, and has received investment support from Axilor Ventures, Beenext and Shastra VC.
MiniMines Cleantech Solutions is engaged in recycling, recovery and refining of critical minerals and rare earth elements for applications in clean energy and advanced manufacturing.
