Coal India Limited (CIL) announced its strategic move into non-coal sectors, with a keen interest in acquiring lithium blocks through upcoming auctions. “We have recently secured a graphite mine. Although we participated in a lithium block auction, we did not succeed. Nevertheless, our interest remains strong,” stated CIL’s Chairman and Managing Director, PM Prasad.
The company’s first venture into non-coal mining involved acquiring a graphite block in Madhya Pradesh. Graphite is a critical material for the production of anodes in lithium-ion batteries, prized for its cost efficiency and energy density.
“We successfully bid for a graphite block and are now focused on its development and exploration,” Prasad remarked. CIL’s annual report highlighted the company’s diversification efforts in response to the dynamic global energy landscape.
The report emphasized CIL’s expansion into the battery materials sector, targeting lithium, nickel, cobalt, and graphite.
As reported by thehindubusinessline.com, the company plans to leverage its mining expertise, extensive operational presence, and robust financial resources to tap into these emerging markets, aiming to enhance long-term resilience and create new revenue streams.
