Midwest Advanced Materials Starts 500-Tonne NdFeB Plant as India Targets Magnet Independence

Highlights

• Midwest Advanced Materials is commissioning a 500 tonne/year sintered NdFeB magnet plant in Hyderabad, with commercial production expected in October 2025.
• India's Technology Development Board committed ₹125 crore (~$13M) toward the ₹250.86 crore demonstration project, with NFTDC as the key technology partner.
• Initial magnets are expected to cost 20–25% more than Chinese imports, with upstream NdPr and Dy/Tb sourcing remaining a critical strategic vulnerability.
• Expansion to 5,000 tonnes/year is targeted by December 2027, with total investment potentially reaching ₹2,000 crore (~$208 million).
• Key metrics to watch include qualified customers, saleable yield, realized $/kg, and the origin of NdPr, Dy, and Tb feedstock.