LICO Materials wins Indian government grant to scale critical mineral recovery
What's the deal? LICO Materials, an Indian battery circularity company, has secured an eligibility grant from India's Ministry of Mines under the National Critical Mineral Mission (NCMM). The grant supports it in building domestic "urban mining" capability — recovering lithium, nickel, and cobalt from waste batteries.
LICO was one of 58 companies selected nationwide from hundreds of applicants. Against a total committed investment of ₹240 crore (roughly $28M), it qualifies for a 20% capital expenditure subsidy and a multi-year operational expenditure subsidy tied to commercial sales through the 2030–31 fiscal year.
Why now? India is racing to secure domestic supply chains for critical minerals essential to batteries and electric vehicles. Global mine supply is concentrated in a handful of countries, making recycling a strategic priority. The NCMM scheme specifically targets companies that can perform actual chemical extraction — not just collect or disassemble batteries.
"We are not just recycling batteries but are producing battery-grade lithium, nickel, and cobalt on Indian soil, from Indian waste batteries, for India's cell and battery manufacturers," said Gaurav Dolwani, chief executive officer of LICO Materials.
What could go wrong? Battery recycling at scale remains technically demanding. Hydrometallurgical processes must achieve battery-grade purity to be commercially viable, and LICO will need to ramp production while meeting stringent quality benchmarks. The subsidies are also performance-linked — if commercial sales don't materialise, the operational support dries up.
The signal: India's NCMM scheme is one of the most concrete government-backed frameworks yet for battery circularity in a major emerging market. With 58 companies selected and subsidies tied directly to commercial output rather than R&D milestones, the programme effectively forces the sector to prove industrial viability — a model other resource-dependent economies may soon replicate as competition for critical mineral supply chains intensifies.
Read more: epcworld.in
