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At least 25 companies, including JSW Group, Vedanta, Hindustan Zinc Ltd (HZL) and NLC India, participated in a pre-bid conference for the Rs 7,280-crore scheme to promote the manufacturing of sintered rare earth permanent magnet called by the heavy industries ministry on Tuesday, sources said. The government will select a maximum of five entities through the bidding, with each entity setting up facilities of up to 1,200 MTPA, aggregating to a total of up to a maximum capacity of 6,000 MTPA. "We welcome the Ministry of Heavy Industries' forward-looking scheme to promote rare earth permanent magnet manufacturing, a crucial component for industries like EV, aerospace, defence, and consumer electronics. We are assessing the opportunity as this initiative aligns with our focus on critical minerals and presents a horizontal expansion opportunity," a Vedanta Spokesperson told PTI. On March 20, the heavy industries ministry invited bids for setting up manufacturing facilities for 6,000 metr
Vedanta group firm Hindustan Zinc Ltd on Monday said it has partnered with Tata Steel to expand the use of its low-carbon zinc solution, EcoZen, in steel manufacturing. The partnership highlights both firms' resolve to weave climate priorities into their core operations and sourcing strategies. "Hindustan Zinc... has strengthened its longstanding association with Tata Steel to expand the integration of EcoZen, its lowcarbon zinc solution into sustainable steel manufacturing," Hindustan Zinc said in a filing to the BSE. EcoZen is produced using renewable energy and has a verified carbon footprint of less than one tonne of CO equivalent per tonne of zinc -- about 75 per cent lower than the global industry average. By significantly reducing emissions at the raw material stage, EcoZen enables downstream industries to lower value-chain emissions and advance their decarbonisation goals. "Our partnership with Tata Steel is a significant milestone in scaling up the adoption of low-carbon