MiniMines signs INR 350 Crore MoU with Karnataka Government
The agreement enables MiniMines to establish a 15,000 MTPA critical minerals refining complex in its first phase, boosting India’s domestic supply of high-purity lithium, nickel, cobalt, copper, and graphite.
November 28, 2025. By News Bureau
Through the Giga Critical Minerals Refining Complex, MiniMines is set to transform India’s industrial landscape by creating a domestic supply of high-purity lithium, nickel, cobalt, copper, and graphite, among other critical mineral and rare earth elements. These elements are essential for clean energy storage, electric mobility, and advanced manufacturing. This facility will directly support sectors like EVs, renewable energy, aerospace, defence, and electronics by ensuring consistent access to refined materials worth INR 500-600 crore that are currently imported. The first phase will have a refining capacity of 15,000 MTPA, generating 13.4 thousand tonnes of annual throughput. For every INR 1 crore of MiniMines’ output, approximately INR 3 crore worth of industrial value will be created downstream through various supply chains.
The refining complex will operate using MiniMines’ patented Hybrid-Hydrometallurgy (HHM) process for recycling lithium-ion batteries. The company is also in the research and development (R&D) phase of its HydroMag REE Loop technology, which focuses on recycling and recovering rare earth magnets. The complex will also house a world-class R&D and training centre to support workforce development, technology transfer, and continuous innovation in circular mineral processing.
Speaking on the partnership, Anupam Kumar, Co-Founder and CEO, MiniMines Cleantech Solutions, said, "This MoU marks a major step in India’s journey toward self-reliance in critical minerals. With this refining complex, we aim to build a domestic ecosystem capable of processing and supplying high-purity materials needed for batteries, magnets, and other clean energy technologies. Our focus is to recover value from waste streams and reduce the country’s dependence on imported raw materials. We will be extracting in India and supplying to the world."
By refining these minerals locally, MiniMines will help India conserve foreign exchange, strengthen its strategic autonomy, and advance the goals of Atmanirbhar Bharat and Make in India. More importantly, it will anchor a new circular economy model, one where value is recovered from waste, industries are powered by indigenous innovation, and India emerges as a global hub for sustainable critical mineral processing. It is expected to generate over 1,500 direct and indirect jobs and contribute approximately INR 1,300 crore in annual turnover and INR 200 crore in GST revenue once operational.
“We commend MiniMines for advancing critical mineral and rare earth recovery from Li-ion batteries, ores, and electronic materials through their patented process. This Giga Critical Minerals Refining Complex and its sustainable practices align perfectly with Karnataka’s commitment to building a robust ESDM ecosystem, reducing import dependency, and developing a manufacturing hub while promoting environmental responsibility. We wish them the very best for the future,” said Dr Manjula N, IAS, Secretary, Electronics, IT, Bt and Science & Technology, Government of Karnataka.
MiniMines’ efforts in building India’s critical mineral ecosystem are backed by strong institutional and investor support. The company has received INR 4.3 crore in grants from Oil India Corporation, UNIDO, and ACT Grants, and is also supported by Mercedes-Benz through its Climate Tech Incubator, Villgro. On the investment front, MiniMines is backed by marquee investors including Axilor Ventures, Beenext, and Shastra VC. The round also saw participation from Pawan Munjal, Chairman of Hero MotoCorp, and Warmup Ventures.
MiniMines work in Critical Minerals and Rare Earth recycling, recovery and refining is a strong step in India's self-reliance and a greener future for all. Karnataka's ESDM vision focuses on innovation with sustainability, and initiatives like this strengthen our tech ecosystem while reducing environmental impact," said Priyank Kharge, Hon'ble Minister for Panchayati Raj & Rural Development, and IT, Bt.
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