 "Ram Kollareddy, Chief Executive Officer, Midwest Ltd.")
India’s solution to the ongoing crisis surrounding rare earth magnets may well be on track, as Hyderabad-based Midwest Advanced Materials (MAM) is all set to produce the country’s first rare earth magnets by December from its 500-tonne-per-annum facility in Hyderabad, a top company executive told Business Standard on Sunday.
The Kollareddy family-owned company is also considering investing ₹1,000 crore over a period of three years to expand its capacity to around 5,000 tonnes per annum, in addition to backward integration. Midwest Ltd (a sister concern of MAM) has secured mines containing monazite (feedstock for rare earths) strategically in Sri Lanka
