New Delhi, March 1 : Union Minister for Mines Pralhad Joshi has handed over letters of financial grants totalling Rs 6 crore to five startups for funding innovations in the mining and mineral sector, according to an official statement issued on Friday.

The five startups and MSMEs selected for the grants are Ashvini Rare Earth Pvt Ltd, Saru Smelting Pvt Ltd, LN Indtech Services Pvt Ltd, Cellark Powertech Pvt Ltd, and Caliche Pvt Ltd.

Pune-based Ashvini Rare Earth Pvt Ltd has been granted Rs 1.5 crore for the establishment of a pilot plant for extraction of Neodymium - Praseodymium metal from Neodymium-Praseodymium Oxide through Calcio-thermic reduction route for NdFeB Base Permanent Magnet Application.

Saru Smelting Pvt Ltd from Meerut has been granted Rs 1.16 crore for establishing a pilot scale plant for a Lithium ion-electro fusion reactor for alkali metals.

Bhubaneswar-based LN Indtech Services Pvt Ltd has been granted Rs 40 lakh for efficient and sustainable production of Alumina Hydrates by electrolysis of Sodium Carbonate and produce Hydrogen.

For setting up pilot scale production (25kg/day) of high purity battery grade silicon material for lithium-ion battery anode, Cuttack-based Cellark Powertech Pvt Ltd has been granted Rs 1.7 crore.

Similarly, Shillong-based Caliche Pvt Ltd has been granted Rs 1.2 crore for the development of software named GARBH for the exploration of Rare-Earth Elements.

Ministry of Mines under its Science and Technology (S&T) Programme, launched S&T-PRISM in November last year to fund research and innovation. A total of 56 startups and MSMEs participated in the programme, out of which five have been selected on the basis of milestones they have achieved.

Along with financial grants, these selected startups and MSMEs will be provided mentorship or incubation support and technical advisory support during the 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 the Ministry of Mines has been made the Implementing Agency for S&T'PRISM.

The Ministry of Mines is inviting proposals under the next round of S&T-PRISM from March 1, with the last date of submission of projects by April 30.

/IANS