Coal India & NMDC Explore Lithium Mines in Chile and Australia

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Synopsis:

State-run miners Coal India and NMDC are exploring lithium mines in Chile and Australia. India plans delegations to Zambia and Congo for critical minerals ventures. Domestic auctions for offshore minerals and critical minerals blocks to access vital resources are scheduled.

Coal India, NMDC News Today

State-run miners Coal India and NMDC are exploring lithium mines in Chile and Australia, according to Mines Secretary V.L. Kantha Rao. The move is part of India's strategy to secure access to critical minerals vital for various industries, including electric vehicles.

Additional ReadCoal India Ltd

Encouraging State-Owned Companies

The Indian mines ministry is encouraging other state-owned companies, such as ONGC Videsh, to scout for critical minerals overseas. Rao stated that the government is looking at four state-owned companies to become active in this project.

Delegations Planned for Joint Ventures

India plans to send a delegation to Zambia in June, including executives from the Tata Group and Vedanta, to explore joint ventures in critical minerals like lithium. Another delegation will venture to Congo for similar discussions.

Expanding Trade Agreements and Exploring Trade Routes

India is considering expanding a trade agreement with Chile to encompass critical minerals. Additionally, the government is studying trade routes with Mongolia to explore its copper and coal assets.

Domestic Auctions for Critical Minerals Blocks

Domestically, India is set to conduct an auction for 10 offshore minerals blocks in two to three months. Furthermore, a fourth tranche of critical minerals auction, comprising about 20 blocks, is scheduled by June-end. The auction results of the first tranche of critical minerals are expected by June 15.

The initiatives aim to boost India's access to critical minerals essential for various industries, aligning with its ambitions for cleaner technologies and supporting the growth of sectors like electric vehicles.

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