Midwest Energy inks memorandum of understanding with PERMINAS

Midwest Energy Ltd. | Ceramics/Marble/Granite/Sanitaryware | Construction & Infrastructure | BSE: 526570 | NSE:

08 Jul 2026 Evaluate

Midwest Energy, together with Midwest and the NonFerrous Materials Technology Development Centre (NFTDC), has signed a Memorandum of Understanding (MoU) with PT Perusahaan Mineral Nasional (Persero) (PERMINAS), Indonesia's state-owned strategic minerals enterprise. This MoU establishes a framework for the parties to evaluate potential collaboration across the rare earth value chain in Indonesia, including upstream exploration and resource assessment, mining, processing, extraction, refining and downstream manufacturing in general and Rare earth magnet production in particular. This further opens up further opportunities in related areas.

This step reinforces the company’s ongoing strategy to build a meaningful presence across the rare earth value chain, complementing its existing initiatives in the sector. It marks its first structured collaboration with a Southeast Asian state-owned strategic minerals enterprise. Under the terms of this MoU, the parties shall establish a joint working group to plan and monitor the project implementation.

Under the MoU, the company, Midwest, and NFTDC will collaborate as a consortium, contributing complementary areas of expertise: the company will provide technology and operational expertise in establishing Rare earth Magnet manufacturing plant. While Midwest will contribute expertise in exploration, mine planning, environmental studies, mining and mineral processing operations, and the extraction and separation of rare earth elements, NFTDC will provide technology, technical expertise and services across the value chain. PERMINAS will provide access to critical minerals and rare earth resources for Joint Development in Indonesia.

Midwest Energy (formerly known as Midwest Gold) is engaged in the business of manufacturing and marketing of granite slabs and tiles. The product range of the company includes polished granite slabs and tiles, dimensional granite blocks and polished marble slabs and tiles. The company also engaged in the business of Granite & Marble.

Midwest Energy Share Price

3841.90 21.85 (0.57%)

29-Jul-2026 16:59 View Price Chart

Peers

Company Name	CMP
Kajaria Ceramics	1209.90
Somany Ceramics	485.00
Cera Sanitaryware	6145.70
Asian Granito India	60.81
Orient Bell	319.35
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