Canada's Enervoxa plans India rare earths project, may tie up with Vedanta, NALCO

Enervoxa, a Canadian climate technology developer, plans to hold talks in India with Vedanta, Hindalco Industries and state-run NALCO to set up a rare-earths processing plant based on aluminium production waste. Reuters reported on July 24 that a commercial-scale facility is estimated to cost about $250 million to $350 million, potentially financed through a mix of strategic equity and project financing. Enervoxa chief executive Vandit Verma said the company is evaluating potential sites in eastern India. The approach targets rare earth concentrates recovered from bauxite residue, known as red mud, a byproduct of aluminium production. The plan is aimed at India’s need for industrial-scale processing to high-purity levels, despite the country holding substantial reserves. The company also plans an integrated value chain and to seek government assistance, amid existing research by JNARDC and NITI Aayog stakeholders.