Midwest Limited has been appointed as the Lead Consortium Partner by Kerala Minerals and Metals Ltd. (KMML), a Government of Kerala undertaking, for a strategic pilot project focused on rare earth elements (REEs). The project entails the processing of monazite-rich tailings to produce REEs. Midwest Limited will be responsible for end-to-end execution, including the development of the pilot plant. This selection is contingent upon the execution of a Memorandum of Understanding (MoU) and the procurement of necessary approvals. The pilot facility is slated for commissioning within six months from the date of approvals, with a provision for an extension of up to three months. Midwest Limited will undertake the entire capital investment for the pilot development. KMML will provide the necessary raw materials, land, and utilities, and will have the Right of First Refusal for any commercial production arising from the project. The company's promoters and group entities do not hold any interest in KMML, and the transaction does not constitute a related party transaction.
