Coal India, NMDC, OVL look to secure critical mineral assets abroad

economictimes.indiatimes.com:

PSUs) are readying a coordinated strategy to secure overseas critical mineral assets. Coal India Ltd. (CIL), National Mineral Development Corporation (NMDC), ONGC Videsh Limited (OVL), besides Khanij Bidesh India Ltd.

(KABIL) will be scouting for critical minerals, a top government official said Wednesday.
Talking to reporters on the sidelines of a workshop, union mines secretary V L Kantha Rao said PSUs with overseas offices will be given preference for securing critical minerals in countries where they already have presence. CIL is already pursuing lithium blocks in Chile while NMDC is active in Australia.

KABIL, a joint venture of National Aluminium Company Ltd (Nalco), Hindustan Copper Ltd (HCL) and Mineral Exploration and Consultancy Ltd (MECL) has also been formed specifically for securing overseas critical minerals. In January this year, it gained exclusive exploration rights for five lithium blocks in Argentina. Lithium is a key component in the production of batteries essential for various industries, including electric vehicles.

In Australia, India is carrying out feasibility studies at five projects of Lithium and Cobalt.
ET reported in April this year that India has reached out to key critical mineral producers to bring in processing technology into the country. The move came close on the back of the government rolling out auctions of critical mineral mines.

In June 2023, India for the first time defined its own list of 30 critical minerals. It was also stated that international commitments towards reducing carbon emissions require the country to urgently relook at its mineral requirements for energy transition and net-zero commitments. Critical minerals such as cobalt, graphite, lithium, and rare earth