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Mines ministry asks Coal India, NMDC to look for lithium mines overseas

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Mines ministry asks Coal India, NMDC to look for lithium mines overseas

Government-owned Coal According to mining Secretary V L Kantha Rao, who was reported by Reuters on Wednesday, Australia and Chile are potential locations for lithium mining by India and NMDC.

Speaking outside of a New Delhi industry convention, Rao stated that his ministry is pushing other state-owned companies, such as ONGC Videsh, to look into vital minerals overseas.

The government, together with executives from Vedanta and the Tata Group, will send a group to Zambia in June in an attempt to acquire essential resources. It is anticipated that both countries would investigate cooperative projects in vital minerals like lithium.

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A second group will travel to the Congo to have talks of a similar nature.

According to Rao, India is thinking of extending its trade pact with Chile to include essential minerals. To access Mongolia’s resources of coal and copper, New Delhi is looking at trading channels with the country.

The third-largest carbon emitter in the world, India, declared 30 minerals, including lithium, to be “critical” to advancing its goals of greener technology last year. Even though the Centre just found its initial lithium deposits last year, it still wants to set up processing facilities nearby.

At the time, mining behemoths Vedanta Ltd. and Jindal Power, together with SoftBank-backed e-scooter maker Ola Electric, were fighting for key mineral blocks, including lithium.

According to reports from earlier this month, India is thinking of offering incentives to entice private businesses to build facilities for processing lithium. With lithium being used in electric vehicle (EV) batteries, New Delhi hopes to boost the supply of this metal and encourage the growth of its fledgling mining industry.

In addition, the ministry of mines was trying to come up with a new key minerals policy that would provide incentives for businesses to establish lithium processing facilities. While the details of these incentives are still being worked out, India is looking to Canada and Australia as role models.

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