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Govt plans ₹1,500 crore incentive scheme to recycle critical minerals

Midwest Advanced Materials to produce rare earth magnets as India eyes local recycling of critical minerals following China's supply curbs Puja Das New Delhi Listen to This Article Following the disruption in the supply of rare earths and permanent magnets after China's notification on 4 April, the mines ministry is planning to introduce a ₹1,500 crore incentive scheme to recycle critical minerals, according to a top official. In parallel, Midwest Advanced Materials Pvt Ltd (MAM), a Hyderabad-based company specialising in advanced materials and rare earth magnets, is in talks with the Non-Ferrous Materials Technology Development Centre (NFTDC), Hyderabad, to acquire its technology for extracting and processing rare earth magnets, the official said. The incentive scheme will focus on critical minerals such as neodymium (a rare-earth element from the