Coal India and NMDC are exploring potential lithium mines in Chile and Australia. The ministry of mines is actively promoting the involvement of state-owned enterprises like ONGC Videsh in identifying critical mineral reserves overseas. NMDC’s subsidiary, Legacy Iron Ore, had entered into a lithium exploration agreement with Australia’s Hancock Prospecting Pty Ltd in June 2023.
The government is sending a delegation to Zambia in June, comprising executives from prominent companies like the Tata Group and Vedanta. During this visit, discussions between the two governments will focus on the collaborative exploration of critical minerals such as lithium.
In addition to Zambia, a separate delegation will be dispatched to Congo. The government is evaluating the feasibility of expanding its existing trade agreement with Chile to encompass access to critical minerals. Similarly, explorations into potential trade routes with Mongolia are underway to tap into copper and coal resources.
Bolivia is also being assessed for its critical mineral potential, while Argentina is being considered for additional lithium reserves. As reported by Reuters, the government is gearing up to conduct an auction for ten offshore mineral blocks within the next two to three months.
Additionally, a fourth tranche of critical minerals auction, comprising approximately twenty blocks is slated to take place by the end of June. The government is set to announce the auction results of the first tranche of critical minerals by June 15.
