Boosting Domestic Production: Runaya's ₹300-500 Cr Rare Earth & Magnet Push.

Runaya, a Vedanta group company known for its zero-waste and zero-discharge aluminum processing, is set to embark on a substantial expansion, committing nearly ₹1,000-₹1,200 crore to boost its capabilities. A significant portion of this investment, between ₹300-₹500 crore, is earmarked for the establishment of new rare earth element (REE) processing and magnet-making facilities.

The remaining capital expenditure will drive a doubling of Runaya's existing recycling facilities, increasing capacity from 100,000 tonnes per annum to 200,000 tonnes per annum over the next two years. This move underscores Runaya's commitment to enhancing its green aluminum recovery and diversified metal recovery businesses.

According to Jagannath Prasad, CEO of Green Aluminium Recovery & Diversified Metal Recovery Business at Runaya, the company is "seriously evaluating" the rare earth element project. Runaya is exploring various avenues to advance this venture, including potential joint ventures with international partners, technology transfers, or other forms of collaboration. Discussions with international players are currently underway as details are being finalized.

This strategic investment by Runaya highlights a growing focus on critical minerals and advanced manufacturing within India, aiming to strengthen domestic supply chains and reduce reliance on imports for essential components like rare earth magnets.