The Company has been selected as Lead Consortium by Kerala Minerals and Metals Ltd. (KMML) for Strategic Rare Earth Elements Pilot Project.
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Midwest Ltd has been selected as the Lead Consortium Partner by Kerala Minerals and Metals Ltd. (KMML), a Government of Kerala undertaking, for a strategic pilot project to process monazite-rich tailings into rare earth elements (REEs). The project includes end-to-end execution covering mineral processing, technology development, and pilot plant setup. The company will invest 100% of the capital for the pilot development, while KMML will provide raw materials, land, and utilities. The pilot facility is targeted to commission within 6 months from receipt of approvals, extendable by up to 3 months. The project is subject to MoU execution and regulatory approvals, with KMML granting the company Right of First Refusal for commercial production if the pilot succeeds. The order size is not quantifiable at this stage.
This is a strategically significant contract as it opens a potential pathway to commercial rare earth element production in India, a sector of high strategic importance. However, since it is a pilot project with no quantifiable value yet and subject to approvals, the financial impact remains uncertain for now.