NLC India announced plans to participate in upcoming auctions for critical mineral resources, aiming to reach an annual mining capacity of one million tons by 2029-30.
NLC India’s core operations include coal and lignite mining, as well as power generation. Expanding into critical mineral mining is a strategic move, given the rising demand for these materials, which are essential for various industries such as semiconductor manufacturing and renewable energy projects, including the production of solar panels, wind turbines, and advanced batteries for storage and transportation.
NLC India indicated that once it develops expertise in critical mineral mining domestically, it will explore opportunities abroad. Having been involved in mining since 1967, the company plans to leverage its extensive experience to expand into the critical minerals sector.
As reported by msn.com, the budget for 2024-25 also introduced the critical mineral mission, which focuses on domestic production, recycling, and overseas acquisition of critical minerals. The mission aims to secure the supply chain by sourcing minerals from both domestic and international markets. It seeks to strengthen the value chain through advancements in technology, regulatory frameworks, and financial systems to encourage innovation, skill development, and global competitiveness in mineral exploration, mining, and processing.
NLC India also has plans to significantly boost its renewable energy capacity from 1,431 MW to 10,110 MW by 2030. Additionally, the company is focused on policies and regulatory reforms that promote market liquidity and competitive pricing, further supporting the transition to a sustainable energy mix.
