NMDC exploring lithium assets, conducting negotiations in Africa, Australia

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Indian iron ore miner NMDC Ltd is exploring lithium assets in Africa and Australia and is currently in negotiations, a source with direct knowledge of the matter said on Friday.


“We are a government company and we want to use the reservation route instead of auctions,” the source said, referring to taking over a mining block by being nominated to do so by the government.


NMDC did not immediately respond to a Reuters request for comment.


In June last year, Reuters reported that NMDC’s unit Legacy Iron Ore had signed a lithium exploration pact with Australia’s Hancock Prospecting Pty Ltd.


Additionally, NMDC is seeking lithium blocks from the Indian government on a nomination basis, according to the source.


NMDC shares were down 1.6 per cent on Friday.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

First Published: Mar 22 2024 | 12:33 PM IST