TEXMiN, Magnora RE Tech Form Rare Earth Magnet Alliance

TEXMiN, the Technology Translation Research Park (TTRP) under the Department of Science and Technology (DST), Government of India, hosted at IIT (ISM) Dhanbad, has entered into a strategic alliance with Magnora RE Tech Pvt. Ltd. to explore collaboration in critical minerals, rare earth elements (REEs) and rare earth permanent magnets (REPMs).

Under the proposed arrangement, Magnora will serve as a strategic investor and industry partner, while ELITech Earth Science Pvt. Ltd. is expected to provide project management consultancy and technical coordination. The collaboration will bring together TEXMiN's institutional and technological expertise with industry investment and project execution support to strengthen India's domestic capabilities in the critical minerals sector.

The alliance aims to address India's growing demand for rare earth permanent magnets, which are used in electric vehicles, renewable energy systems and advanced electronics. The partners intend to develop a stronger domestic value chain covering critical mineral resources, rare earth elements and finished magnet products.

Prof. Sukumar Mishra, Director of IIT (ISM) Dhanbad and Chairman of the Hub Governing Board, TEXMiN, said that the development of indigenous capabilities in rare earth permanent magnets requires coordinated efforts involving research, industry and project execution. He described the alliance with Magnora RE Tech, supported by ELITech, as a step towards translating institutional research into solutions aligned with India's strategic and industrial priorities.

Prof. Dheeraj Kumar, Director of TEXMiN, said that the collaboration would combine the organisation's technological and institutional strengths with the industry and project expertise of its partners. He added that the initiative aims to strengthen the domestic value chain for critical minerals, rare earth elements and permanent magnets.

The collaboration is aligned with national initiatives, including the National Critical Mineral Mission (NCMM), Atmanirbhar Bharat and Viksit Bharat 2047. It also reflects the partners' objective of reducing import dependence and building domestic capabilities in critical mineral technologies.

Through the alliance, TEXMiN, Magnora and ELITech aim to develop solutions to support India's demand for rare earth permanent magnets and contribute to the country's critical minerals ecosystem.