Attero's Bold Investment: Leading India's Rare Earth Recycling Revolution
Attero, an e-waste recycling company, plans to invest Rs 100 crore to boost its rare earth recycling capacity from 300 to 30,000 tonnes within two years. This expansion aligns with the market demand for rare earth minerals, crucial for sectors like electronics and electric vehicles, amidst China's export restrictions.
- Country:
- India
Attero, India's pioneering e-waste recycling firm, has announced a significant investment of Rs 100 crore aiming to expand its rare earth recycling capacity from 300 to 30,000 tonnes in the next 12 to 24 months. This move comes as China tightens its grip on rare earth exports, crucial for technology industries.
CEO Nitin Gupta emphasized that Attero's expansion supports the burgeoning demand for rare earth elements, indispensable in industries such as electronics and automobiles, both in India and globally. The company boasts a 98% efficiency rate in extracting minerals like Neodymium, Praseodymium, and Dysprosium, maintaining a purity of 99.9%.
Aligning with India's National Critical Mineral Mission, Attero's venture promotes self-reliance in the critical minerals sector to counter dependency on Chinese imports. The firm's patented technology not only enhances efficiency but significantly reduces the carbon footprint compared to traditional mining methods.
(With inputs from agencies.)
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