New Delhi: Nexon Geochem has finished a technical assessment of Indian-origin raw materials for making rare earth magnets. The Hyderabad-based company announced the result on Tuesday. The company is building an integrated operation to manufacture and supply permanent magnets. It said the assessment is a step towards an Indian supply chain for Nd-Fe-B permanent magnets, covering the route from raw material to finished product.
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Nexon said the outcome shifts the project into a new phase. "The successful validation of the first batch moves Nexon Geochem beyond the bid submission stage, into the next phase of technical qualification, pilot production and customer validation," the company said in its statement.
It describes the operation it is putting together as a fully integrated, end-to-end manufacturing ecosystem, one that converts domestically sourced raw materials into finished magnets.
Praveen Choudhary, founder, said, "This is a critical accomplishment for Nexon because we have technically validated the pathway for integrating Indian-origin raw materials into the required technology platform. Our focus now is to take this validated route into pilot production and customer applications in India."
The company set out several strands of work now running in parallel. It intends to mobilise its offshore pilot for customer validation in India. It will also work with customers on application-specific requirements and tune both the manufacturing process and the product grades.
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Alongside that, Nexon said it is advancing the infrastructure, equipment and execution needed for production at commercial scale.
Nexon Geochem recently entered into an arrangement with Giredmet of Russia. The company said it will draw on Giredmet's technology and research expertise to build integrated rare earth processing and downstream facilities.