Lohum to build India's first integrated rare earth magnet production facility in Uttar Pradesh

Lohum, a diversified producer of critical minerals, is going to build India’s first integrated rare earth element (REE) magnet production facility in Uttar Pradesh, the company's founder and CEO Rajat Verma announced on November 10.

"The state-of-the-art plant will have production capacity of 2,000 metric tonnes. The facility will refine and produce both light and heavy rare earth elements, key for advanced technology, electric mobility, renewable energy, aerospace, defense, electronics; and more. This will be India’s first end-to-end operation - from refining rare earth oxides to producing finished magnets," Verma told Moneycontrol.

The move is significant as it comes at a time when China, which dominates the global supply of rare earth elements and magnets, has been tightening expo