(PTI)
Recycling player Lohum on Monday announced the launch of a rare earth element magnet production facility set up at an investment of Rs 500 crore in Uttar Pradesh. The plant will have a production capacity of 2,000 metric tonnes.
“The facility, which has been established with an investment of Rs 500 crore, marks a transformational step toward building India’s self-reliance in rare earth magnets and critical minerals. The facility will refine and produce both light and heavy rare earth elements, key for advanced technology, electric mobility, renewable energy, aerospace, defense, electronics; and more,” a company statement said.
