Gujarat Mineral plans to establish rare earth elements processing plant

Gujarat Mineral Development Corporation announced that they are keen to establish a Rare Earth Elements (REE) Processing Plant in the country as REEs are essential for developing green energy technologies like permanent magnets for Electric Vehicles& wind turbines and LEDs, thereby helping India reduce carbon footprint.

As the next stage for entry into the sector and setting up the business, GMDC proposes to conduct a pre economic assessment for the Ambadongar deposit involving, among other things, formulating a process flow design and all relevant testing for beneficiation and REE oxide production in line with Government of Gujarat's vision of establishing a complete value chain for Rare Earth Elements in Gujarat, estimating the investments required for such ventures and possible returns over the project time horizon.

Powered by Capital Market - Live News