[color=hsl(0,0%,0%)]Critical minerals and battery recycling company Lohum is ramping up its refining, recycling and advanced materials operations across lithium, cobalt, nickel and rare earths, as India accelerates efforts to build domestic supply chains and reduce reliance on China for strategic materials.
[color=hsl(0,0%,0%)]The company, which began as a battery recycling startup, is repositioning itself as a fully integrated critical minerals platform spanning recycling, refining, mining and advanced materials manufacturing. It plans to invest Rs 2,500–3,000 crore by 2029 and target revenues of Rs 10,000 crore over the same period.
[color=hsl(0,0%,0%)]“We are building the overall critical mineral space, not just recycling,” said Rajat Verma, Founder and CEO of Lohum.
[color=hsl(0,0%,0%)]The expansion comes as India steps up efforts to reduce strategic vulnerabilities linked to Chinese dominance in lithium-ion batteries, rare earth magnets and critical mineral refining. Industry executives say recent geopolitical tensions, including disruptions in West Asia, have further highlighted risks around supply chains for materials essential to electric vehicles, renewable energy systems, semiconductors, electronics and defence manufacturing.
[color=hsl(0,0%,0%)]Lohum currently operates a recycling capacity of 25,000 metric tonnes annually and is planning significant expansion across refining operations.
- [color=hsl(0,0%,0%)]Lithium refining capacity of 1,000 MT is set to be doubled
- [color=hsl(0,0%,0%)]Cobalt refining capacity of 1,200 MT is also planned to double
- [color=hsl(0,0%,0%)]Nickel refining capacity of 1,000 MT is expected to triple
- [color=hsl(0,0%,0%)]Aluminium and copper refining capacity of 4,500 MT will also be doubled
[color=hsl(0,0%,0%)]The company says the expansion is driven by rising demand for processed strategic metals used in energy storage and industrial applications.
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[color=hsl(0,0%,0%)]Rare Earth Magnet Facility In Uttar Pradesh
[color=hsl(0,0%,0%)]A key part of the expansion strategy is a 2,000 MT integrated rare earth magnet facility being developed in Uttar Pradesh. The company claims it will be India’s first fully integrated plant converting rare earth ore and scrap into finished sintered magnets.
[color=hsl(0,0%,0%)]The facility, located in Meerut, is expected to reduce India’s dependence on imported rare earth magnets, a segment currently dominated by China.
[color=hsl(0,0%,0%)]“We are setting up an integrated rare earth magnet plant, from ore and scrap to metal to magnet,” said Verma.
[color=hsl(0,0%,0%)]Alongside downstream processing, Lohum is expanding upstream mining exposure after acquiring lithium mines in Zimbabwe. These assets are expected to become operational in the next one to two months, with targeted production of around 30,000 tonnes lithium equivalent annually.
[color=hsl(0,0%,0%)]The company is also evaluating additional opportunities across cobalt, nickel, platinum group metals and other strategic minerals in Africa, Latin America and Australia.
[color=hsl(0,0%,0%)]The company estimates that India currently has only about 50,000 tonnes of true battery recycling capacity, against government ambitions of nearly 2,00,000 tonnes in the near future. It argues that this implies an immediate need for a fourfold expansion in recycling infrastructure.
[color=hsl(0,0%,0%)]Lohum also highlighted rising input costs in global markets, stating that procurement prices for several critical materials have increased 10–50 per cent following escalation of the West Asia conflict. Sulphuric acid prices, it noted, have surged 100–150 per cent depending on grade.
[color=hsl(0,0%,0%)]According to Verma, India must accelerate development of domestic refining, processing and equipment manufacturing capabilities to compete with established global players.
[color=hsl(0,0%,0%)]“China became dominant because it built refining and equipment ecosystems at scale. India now needs to create those industrial capabilities domestically,” he said.
[color=hsl(0,0%,0%)]The company expects long-term demand growth across electric mobility, energy storage, semiconductors, electronics, defence and renewable energy sectors as India expands its clean energy and manufacturing base. |
