Pillar map
Critical Minerals
India can mine, but the refining and magnet-making layer that turns ore into usable material is controlled abroad, mostly by China.
The stack
Where the value sits
Each layer and the chokepoints inside it, coloured by where India stands.
Indian capability Foreign-controlled Global / neutral
Who holds the veto
Chokepoints
Who controls each layer, and how much — ranked by concentration.
ControllerLayer / inputShareNote
Khanij Bidesh India Limited (KABIL)controls CAMYEN Catamarca Lithium Blocks (5)15703 hectares5 blocks: Cortadera-I, Cortadera-VII, Cortadera-VIII, Cateo-2022-01810132, Cortadera-VI.
Department of Atomic Energy (DAE)controls IREL (India) Limited100%IREL is a PSU under the Department of Atomic Energy.
Chinacontrols Spherical Graphite Processing99%China accounts for 99% of the global spherical-graphite market; ~80% of natural-graphite mining and >80% of coated spher
Chinacontrols Rare-Earth Separation and Refining (Solvent Extraction)91%China refined 91% of global magnet-REE output in 2024 (IEA Rare Earth Elements report).
Chinacontrols Battery-grade Lithium Refining70%China refines 70% of global lithium chemicals and 95% of hard-rock lithium ore refining (IEA Outlook 2025).
Battery-grade Lithium Refiningdepends on Lithium1 feedstock dependencyRefining capacity requires upstream lithium concentrate or brine.
Exide Energy Solutions Ltd (EESL)depends on Battery-grade Lithium Refining1 feedstock gapIndia has no commercial battery-grade lithium refining capacity as of 2026; the Bengaluru gigafactory will rely on impor
Sintered NdFeB Permanent Magnet Manufacturingdepends on Rare-Earth Separation and Refining (Solvent Extraction)1 feedstock dependencySintered NdFeB magnets require high-purity Nd oxide, Pr oxide and (for high-coercivity grades) Dy/Tb feedstock.
Amara Raja Energy & Mobility Ltd (ARACT)depends on Battery-grade Lithium Refining1 feedstock gapSame structural gap as Exide — domestic lithium refining does not exist.
Exide Energy Solutions Ltd (EESL)depends on SVOLT Energy Technology Co., Ltd.1 technology partnerSVOLT provides cell chemistry and manufacturing technology under a long-running partnership; a strategic dependency for
The ecosystem
Players by role
Foreign incumbents (2)
Indian challengers (14)
Amara Raja Energy & Mobility Ltd (ARACT)Attero Recycling Private LimitedCoal India Limited (CIL)Exide Energy Solutions Ltd (EESL)Hindustan Copper Limited (HCL)Hindustan Zinc Limited (HZL)IREL (India) LimitedKhanij Bidesh India Limited (KABIL)Lohum Cleantech Private LimitedMidwest Advanced MaterialsMineral Exploration and Consultancy LimitedMishra Dhatu Nigam LimitedNational Aluminium Company LimitedVedanta Limited
Facilities & anchors (8)
Amara Raja Giga Corridor, DivitipalliCAMYEN Catamarca Lithium Blocks (5)Exide Energy Solutions Gigafactory, BengaluruIREL Odisha Sand Complex (OSCOM), ChhatrapurIREL Rare Earth Permanent Magnet Plant (REPM), VisakhapatnamKatghora Lithium & PGE BlockKawalapur Rare Earth Elements BlockReasi Lithium Deposit (Salal-Haimana, J&K)
Schemes & agencies (8)
Critical Mineral Recycling Incentive SchemeCritical Minerals Facilitation Office (Australia)Department of Atomic Energy (DAE)Geological Survey of IndiaMinistry of Heavy IndustriesMinistry of MinesNational Critical Mineral MissionScheme to Promote Manufacturing of Sintered Rare Earth Permanent Magnets
Streams & inputs (17)
Battery-grade Lithium RefiningCobaltCobalt Sulphate RefiningCopperCritical Mineral Recycling / Urban MiningGalliumGraphite (battery-anode grade)High-energy Li-ion cellsLithiumNatural GraphiteRare Earth Elements (magnet: Nd, Pr, Dy, Tb)Rare Earth Elements / Neodymium-PraseodymiumRare-earth permanent magnets (NdFeB)Rare-earth separation and refining (Nd, Pr, Dy, Tb)Rare-Earth Separation and Refining (Solvent Extraction)Sintered NdFeB Permanent Magnet ManufacturingSpherical Graphite Processing
The moat
Where this pillar connects
Cross-pillar links only Techadyant can show — one graph, not five silos.
- Galliumsupplies toSiCSem Private Limiteddefence
- Galliumdepends onCrystal Matrix Limitedsemiconductors
- Mishra Dhatu Nigam Limitedcustomer ofHindustan Aeronautics Limiteddefence
- Galliumdepends onBharat Electronics Limiteddefence
- Mishra Dhatu Nigam Limitedsupplies toHindustan Aeronautics Limiteddefence
- Mishra Dhatu Nigam Limitedsupplies toBharat Dynamics Limiteddefence
- Mishra Dhatu Nigam Limitedsupplies toDefence Research and Development Organisationdefence
- People's Republic of Chinasupplies toDrone flight controllerdefence
- Rare-earth permanent magnets (NdFeB)component ofBLDC drone motorsdefence
- High-energy Li-ion cellscomponent ofDrone battery packsdefence
- Mishra Dhatu Nigam Limiteddepends onTitanium spongedefence
- Mishra Dhatu Nigam Limitedmanufactures / producesSingle-crystal turbine bladedefence