Nexon Geochem announces a tie-up with Russia’s Giredmet to support development of a permanent magnet manufacturing and rare-earth processing facility in India. Multiple reports say the project is designed to move from rare-earth oxides to permanent magnets within an integrated platform. The company plans to establish the facility in Hyderabad and produce sintered NdFeB (neodymium iron boron) magnets, which are commonly used in applications such as motors and other industrial equipment.
Business Line describes the goal as positioning Nexon Geochem among early providers of an integrated “rare earth oxide-to-magnet” platform. Deccan Chronicle similarly states that Nexon intends to create a scalable manufacturing setup for sintered NdFeB permanent magnets in Hyderabad. The coverage also ties the initiative to Giredmet’s role through the partnership for rare-earth processing and related technical support.
Overall, the sources agree that the collaboration is aimed at building capacity in rare-earth processing and permanent magnet manufacturing, with Hyderabad identified as the location for the magnet facility and sintered NdFeB cited as the primary product.
