Lohum Unveils Rs 500 Crore Rare Earth Magnet Production Plant in UP

Lohum has launched a Rs 500 crore rare earth element magnet production facility in Uttar Pradesh, aiming to build India's self-reliance in critical minerals. The plant will produce light and heavy rare earth elements, supporting key industries like technology, renewable energy, and defense, while aligning with government initiatives.

Lohum unveiled its new rare earth element magnet production facility in Uttar Pradesh on Monday, marking a significant Rs 500 crore investment in India's critical mineral sector.

The newly established plant has the capacity to produce 2,000 metric tonnes of both light and heavy rare earth elements, which are crucial for advanced technology, electric mobility, renewable energy, aerospace, defense, and electronics.

Aligned with government initiatives like the National Critical Mineral Mission and the Extended Circular Mineral Strategy, Lohum's facility aims to create sustainable and resilient supply chains, reducing India's import dependence and meeting up to 20% of the country's rare earth magnet demand by 2027.

(With inputs from agencies.)