Attero’s ₹100 Crore Investment to Scale Rare Earth Recycling to 30,000 TPA: India’s Bold Step to Reduce Dependence on China

In a groundbreaking move to bolster India’s self-reliance in critical minerals, Attero, a leading e-waste and lithium-ion battery recycling company, has announced a ₹100 crore investment to scale its rare earth element (REE) recycling capacity from 300 tonnes to an impressive 30,000 tonnes per annum (TPA) over the next 12–24 months. This strategic expansion, led by CEO and Co-Founder Nitin Gupta, aligns with the surging global demand for rare earth magnets and supports India’s National Critical Mineral Mission (NCMM) to counter China’s dominance in the rare earth supply chain. Here’s an in-depth look at how Attero’s initiative is set to transform India’s role in the global critical minerals landscape.
Why Attero’s Investment Matters
China currently controls approximately 90% of global rare earth magnet production and 70% of REE processing, creating a near-monopoly that has left industries worldwide, including in India, heavily reliant on Chinese imports. In April 2025, China imposed stringent export restrictions on rare earth materials, triggering supply chain disruptions for key sectors like electric vehicles (EVs), wind energy, consumer electronics, and defense. Attero’s ₹100 crore investment is a direct response to this challenge, aiming to establish India as a global hub for REE recycling and reduce dependence on Chinese supplies.
According to industry estimates, the global REE market is projected to reach USD 10.9 billion by 2029, with a compound annual growth rate (CAGR) of 12.6%, while the market for rare earth magnets is expected to exceed USD 30.3 billion by 2033. Attero’s expansion positions India to capitalize on this growing demand by recycling critical minerals like Neodymium (Nd), Praseodymium (Pr), Dysprosium (Dy), Cerium (Ce), and Gadolinium (Gd) from e-waste and end-of-life electronics such as hard disk drives, laptops, neckbands, and earphones.
Attero’s Technological Edge
Attero’s competitive advantage lies in its proprietary, patented technology, which enables the extraction of REEs with over 98% efficiency and 99.9% purity—far surpassing global competitors, who average less than 75% efficiency. With over 46 global patents, including recent grants in India, Oman, Qatar, Saudi Arabia, Kuwait, UAE, Bahrain, China, and Taiwan, Attero’s processes are energy-efficient, cost-effective, and significantly reduce greenhouse gas emissions compared to traditional mining. This makes Attero the only Indian company with proven deep-tech capabilities to refine black mass and recover rare earth elements at scale.
Nitin Gupta, CEO and Co-Founder of Attero, emphasized the urgency of building domestic infrastructure: “Attero has consistently advocated for India’s self-reliance in critical minerals to counter China’s dominance in rare earth supply chains. With our existing capability and technology leadership, we are ready to scale our REE recycling capacity from 1 to 100 tonnes per day to reach a total of 30,000 tonnes annually and explore further expansion as demand accelerates.”
Supporting India’s National Critical Mineral Mission
Attero’s initiative aligns seamlessly with India’s National Critical Mineral Mission (NCMM), launched in January 2025, to secure domestic supply chains and promote self-reliance in critical minerals. The NCMM, backed by a ₹16,300 crore budget, targets exploration, processing, recycling, and stockpiling of strategic minerals. Attero’s expansion supports this mission by enhancing domestic availability of REEs, which are vital for EVs, renewable energy systems, and defense technologies. The company’s focus on recycling also complements the government’s push to recover critical minerals from secondary sources like e-waste and industrial byproducts, reducing reliance on mining and imports.
Impact on Key Industries
The global shortage of rare earth magnets, exacerbated by China’s export curbs, has hit industries hard, with Indian EV manufacturers facing potential production delays of 2–6 months and price hikes of 5–8%. For example, a ₹1.6 lakh electric scooter could see a price increase of ₹8,000–13,000. Attero’s scaled-up recycling capacity will provide a steady supply of high-purity REEs, stabilizing supply chains for Indian manufacturers in the EV, wind energy, and electronics sectors. In FY25, Attero processed over 150,000 tonnes of e-waste and 15,000 tonnes of lithium-ion batteries, with plans to ramp up to 415,000 tonnes and 50,000 tonnes, respectively, further solidifying its role in India’s circular economy.
Global Ambitions and Future Plans
Attero’s vision extends beyond India, with plans to expand its footprint in Europe and the United States. The company is developing a greenfield facility in Poland and finalizing a new site in Andhra Pradesh or Jharkhand, India. By targeting a year-on-year growth of 100%, Attero aims to capture a 35% market share in India’s e-waste recycling sector, up from its current 25%. Gupta’s long-term goal is to position India as a global leader in critical mineral recycling, leveraging Attero’s low capital expenditure (capex) of $3,250 per tonne compared to the global average of $5,500–10,000.
India’s Broader Push for Rare Earth Self-Reliance
Attero’s investment comes at a critical time as India ramps up efforts to diversify its rare earth supply chain. The government is finalizing a ₹3,500–5,000 crore incentive scheme to boost local production of rare earth minerals and magnets, with at least five major Indian firms, including Jindal, Vedanta, and Sona Comstar, expressing interest. Additionally, partnerships like IREL’s collaboration with Bhabha Atomic Research Centre (BARC) and Trafalgar Group’s upcoming oxide-to-magnet plant in Gujarat signal a growing ecosystem for domestic REE production. India’s 6.9 million tonnes of rare earth reserves, the third-largest globally, further underscore its potential to become a significant player in the global market.
Why This Matters for India
China’s export restrictions have exposed vulnerabilities in global supply chains, with Indian industries facing inventory shortages that could last until mid-July 2025. Attero’s ₹100 crore investment is a proactive step to mitigate these risks, ensuring a reliable supply of rare earth magnets for India’s EV, renewable energy, and defense sectors. By recycling REEs from e-waste, Attero not only reduces import dependence but also promotes a sustainable, circular economy, aligning with India’s clean energy and Atmanirbhar Bharat goals.
Conclusion
Attero’s ₹100 crore investment to scale rare earth recycling to 30,000 TPA marks a pivotal moment in India’s journey toward self-reliance in critical minerals. Under Nitin Gupta’s leadership, Attero is leveraging cutting-edge technology to challenge China’s dominance, support India’s National Critical Mineral Mission, and meet the growing demand for rare earth magnets. As India accelerates its EV and clean energy ambitions, Attero’s initiative is a game-changer, positioning the nation as a global leader in sustainable critical mineral supply chains.
Keywords: Attero investment, rare earth recycling, India vs China, Nitin Gupta, ₹100 crore, 30,000 TPA, rare earth magnets, National Critical Mineral Mission, EV supply chain, circular economy, self-reliance, critical minerals, e-waste recycling, green technology