NMDC Ltd is actively pursuing the ‘strategic acquisition’ of lithium assets in Australia and Africa, with the company currently conducting due diligence on potential opportunities in these regions. Amitava Mukherjee, Chairman-cum-Managing Director and Director of Finance, shared that the company’s efforts in lithium exploration have made substantial progress, with promising initial results.
“Our search for lithium is gaining traction, and we are undertaking thorough assessments of possible assets in Australia and Africa to position ourselves for strategic acquisitions,” Mukherjee stated.
Lithium, often referred to as white gold, is a vital element in India’s clean energy transition. The alkaline metal plays a crucial role in energy storage systems and is a key component in batteries for mobile phones and electric vehicles.
India relies heavily on lithium imports, with a significant portion sourced from China. As reported by thehindubusinessline.com, beyond lithium, NMDC is also expanding its global reach by exploring other strategic minerals such as iron ore, bauxite, manganese, diamonds, and gold.
