Ministry of Mines

Mines Minister Shri Pralhad Joshi hands over letters of Financial Grants to Five Start-ups for Funding Innovations in Mining and Mineral sector

Posted On: 01 MAR 2024 12:52PM by PIB Delhi

The Ministry of Mines, Government of India has been funding research and development projects (R&D projects) of many research institutions in mining and metallurgy sector since 1978 for safety, economy, speed and efficiency in these sectors, under Science and Technology Programme (S&T program) of Ministry of Mines.

Recently, Ministry of Mines has enlarged the scope of the S&T program by launching S&T-PRISM in November, 2023 to fund research and innovation in starts up and MSME working in the field of mining and mineral sector to bridge up the gap between R&D and commercialisation as also to promote the ecosystem for complete value chain in mining and mineral sector.  A total of 56 Start-ups/MSME participated out of which 5 have been selected for funding a total of Rs. 6 crores based on milestone. Along with financial grants, these selected Start-ups /MSMEs will be provided mentorship or incubation support and technical advisory support during entire project period by a Facilitation & Mentorship Team under the Implementing Agency.

Jawaharlal Nehru Aluminium Research Development and Design Center, Nagpur, an autonomous body under the administrative control of Ministry of Mines has been made the Implementing Agency for S&T – PRISM.

The letters of financial grants were handed over by the Union Minister of Coal, Mines and Parliamentary affairs on 29th February 2024. The details of these Five Start-ups and MSME are as under:

  1. M/s Ashvini Rare Earth Pvt. Ltd., Pune, Maharashtra has been granted Rs. 1.5 crore for Establishment of Pilot Plant for extraction of Neodymium - Praseodymium metal from Neodymium - Praseodymium oxide through Calcio-thermic reduction route for NdFeB Base Permanent Magnet Application.
  2. M/s Saru Smelting Pvt Ltd., Meerut, UP has been granted Rs. 1.16 crore for Establishing a pilot scale plant for Lithium ion-electro fusion reactor for alkali metals.
  3. M/s. L N Indtech Services Pvt Ltd, Bhubaneswar, Odisha has been granted Rs. 0.40 crore for Efficient and Sustainable Production of Alumina Hydrates by Electrolysis of Sodium Carbonate and Produce Hydrogen.
  4. M/s Cellark Powertech Pvt. Ltd., Cuttack, Orissa has been granted Rs. 1.7 crore for Setting up of Pilot scale production(25kg/Day) of high purity battery grade silicon material for lithium-ion battery anode.
  5. M/s Caliche Private Limited, Shillong, Meghalaya has been granted Rs. 1.2 crore for Development of a software named GARBH for Exploration of Rare-Earth-Elements.




The Ministry of Mines will invite proposals under next round of S&T PRISM from 1st March 2024 with last date of submission of projects by 30th April 2024. 



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