NLC India Explores Mining Critical Minerals, Including Lithium, for Future Growth

20 Oct 2023 , 01:53 PM

NLC India Ltd is considering the mining of critical minerals, particularly lithium, and plans to participate in upcoming auctions for mineral blocks. The company’s Chairman and Managing Director, Prasanna Kumar Motupalli, emphasized NLC India’s expertise in mining and its intention to leverage this knowledge in the critical minerals sector.

While its core business revolves around coal, lignite mining, and power generation, NLC India is exploring opportunities in the critical minerals field, recognizing it as a future growth area. They are awaiting the upcoming critical mineral block auctions and will assess the viability of projects before making decisions on which minerals to pursue.

NLC India aims to gain experience in domestic critical mineral mining and is open to exploring international opportunities in the future.

The Union Cabinet recently approved royalty rates for minerals like lithium, niobium, and Rare Earth Elements (REEs) to facilitate their auction, marking a significant step in India’s critical minerals sector development.

Royalty rates are crucial financial considerations for bidders participating in mine auctions. NLC India is a Navratna company under the coal ministry, indicating its prominence in the sector.

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