Nexon Geochem partners with Giredmet

Nexon Geochem, a Hyderabad-based advanced materials company, signed an MoU with Russia's Russia — Giredmet (State Research and Design Institute of Rare Metal Industry under Rosatom) to build integrated rare-earth processing and downstream facilities in India. The partnership aims to establish a full-cycle platform from rare earth oxides to finished NdFeB permanent magnets, with an immediate plan for a sintered NdFeB magnet manufacturing facility in Hyderabad targeting 1,200 MTPA capacity by FY2033. This initiative addresses India's reliance on imports for critical rare earth inputs used in EVs, wind turbines, and defense systems, especially after China's export curbs in 2025-26 exposed supply chain vulnerabilities. The collaboration includes joint R&D, technology transfer, and academic programs.