MiniMines to Establish ₹350 Crore Critical Minerals Refining Complex in Karnataka

MiniMines Cleantech Solutions has signed a Memorandum of Understanding with the Karnataka government to establish a ₹350 crore Giga Critical Minerals Refining Complex in Bengaluru, marking a significant development in India's efforts to build domestic critical mineral processing capacity.

The facility will focus on refining lithium, nickel, cobalt, copper, and graphite—materials essential for electric vehicle batteries, renewable energy systems, and advanced manufacturing. The first phase is designed to handle 15,000 metric tonnes per annum (MTPA) of refining capacity, generating approximately 13,400 tonnes of annual throughput.

MiniMines, which holds the distinction of being South India's first CPCB-certified R4 battery recycler, will utilize its patented Hybrid-Hydrometallurgy (HHM)™ process for lithium-ion battery recycling. The company is also developing HydroMag REE Loop™ technology for rare earth magnet recovery and recycling.

The project aligns with India's National Critical Minerals Mission, which seeks to reduce dependence on imported materials currently valued at ₹500-600 crore annually. According to the company, every ₹1 crore of output from the facility is expected to generate approximately ₹3 crore in downstream industrial value across various supply chains.

"This MoU marks a major step in India's journey toward self-reliance in critical minerals," said Anupam Kumar, Co-Founder and CEO of MiniMines Cleantech Solutions. "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."

The complex will also include a research and development center focused on workforce development, technology transfer, and innovation in circular mineral processing. Once operational, the facility is projected to create over 1,500 direct and indirect jobs and contribute approximately ₹1,300 crore in annual turnover, along with ₹200 crore in GST revenue.

Dr. Manjula N, IAS, Secretary of Electronics, IT, Biotechnology, and Science & Technology for the Karnataka government, welcomed the initiative, noting that it aligns with the state's commitment to building a robust Electronics System Design and Manufacturing (ESDM) ecosystem while reducing import dependency.

Priyank Kharge, Karnataka's Minister for Panchayati Raj & Rural Development, and IT & Biotechnology, emphasized that the project strengthens the state's technology ecosystem while advancing sustainability goals.

MiniMines has received institutional support totaling ₹4.3 crore in grants from Oil India Corporation, UNIDO, and ACT Grants. The company is backed by investors including Axilor Ventures, Beenext, Shastra VC, Warmup Ventures, and Pawan Munjal, Chairman of Hero MotoCorp. It also receives support from Mercedes-Benz through its Climate Tech Incubator, Villgro.

The Bengaluru-based startup currently operates a 3,000 MT processing capacity facility and focuses on recovering critical minerals from lithium-ion batteries and researching rare earth mineral recovery technologies.