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NMDC in talks to invest in lithium exploration companies in Australia

Investment would be voa NMDC's Perth-based arm, Legacy Iron Ore, which is already prospecting for iron ore, gold and base metals there

Govt to sell up to 7.5% in NMDC via OFS on Tuesday, may get Rs 3,621 cr

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2 min read Last Updated : Nov 16 2022 | 7:40 PM IST

With the race for lithium intensifying across the world, Indian public sector miner NMDC is in discussion to invest in lithium-focused exploration firms in Australia to secure offtake for India.

The investment in Australia would be through NMDC’s Perth-based subsidiary, Legacy Iron Ore, which is already doing exploration in iron ore, gold and base metal assets.

Sumit Deb, chairman and managing director, NMDC, said, “The government mandate was that we need to pick up some offtake. We are working on it. The investment would be attached to an offtake.”

“Right now, it’s at a nascent stage,” he added. He was

Topics : lithium NMDC Australia iron ore miners Iron Ore Iron ore prices lithium ion Mining industry Electric Vehicles Lithium battery mines ministry Coal mines

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