MiniMines Signs MoU With Karnataka Govt for ₹350 crore Critical Minerals Plant

MiniMines Cleantech Solutions, a battery recycler based in southern India, has signed a memorandum of understanding with the Karnataka government to set up a ₹350 crore Giga Critical Minerals Refining Complex in Bengaluru.

The agreement was signed with the state’s Department of Electronics, Information Technology and Biotechnology at the Bangalore International Centre. The project supports India’s National Critical Minerals Mission, which aims to expand domestic refining capacity and reduce dependence on imported materials used in electric mobility, renewable energy and advanced manufacturing.

Lithium, Nickel, Copper Under Plan

The facility will refine high-purity lithium, nickel, cobalt, copper and graphite, among other critical minerals and rare earth elements. MiniMines said the first phase will have a capacity of 15,000 MTPA and generate an annual throughput of 13,400 tonnes. The company estimates that for every ₹1 crore of its output, about ₹3 crore of downstream industrial value will be created.

The complex will use MiniMines’ patented Hybrid-Hydrometallurgy (HHM) process for lithium-ion battery recycling. The firm is also developing HydroMag REE Loop technology for rare earth magnet recovery. The site will include an R&D and training centre to support workforce development and technology transfer.

Domestic Ecosystem 

“This MoU marks a major step in India’s journey toward self-reliance in critical minerals,” Anupam Kumar, co-founder and CEO of MiniMines, said. “Our aim is to build a domestic ecosystem capable of processing and supplying high-purity materials for batteries, magnets and other clean-energy technologies.”

The company said the refining complex is expected to create more than 1,500 direct and indirect jobs and generate around ₹1,300 crore in annual turnover and ₹200 crore in GST revenue once operational.

Karnataka officials welcomed the project, saying it aligns with the state’s plans to strengthen its electronics and manufacturing ecosystem while reducing import dependence.

MiniMines’ work in critical mineral recycling and refining has received institutional backing, including ₹4.3 crore in grants from Oil India Corporation, UNIDO and ACT Grants. The company is also supported by Mercedes-Benz through its Climate Tech Incubator, Villgro. Investors in MiniMines include Axilor Ventures, Beenext, Shastra VC, Pawan Munjal of Hero MotoCorp and Warmup Ventures.