The country’s largest iron ore miner, NMDC, said on Thursday it is looking at mining opportunities for critical minerals overseas, including a lithium block in Australia.
Critical minerals such as copper, lithium, nickel and cobalt are important components in rapidly growing clean energy technologies, from wind turbines and power grids to electric vehicles.
“NMDC is… pursuing overseas mining opportunities for critical minerals such as lithium, cobalt and nickel through its subsidiary, Legacy India Iron Ore Ltd, which includes lithium mining operations in Australia,” the company said in a statement.
NMDC is also preparing to start production from its eight million tonne coking coal block in December next year.
This measure aims to reduce the country’s dependence on imported coking coal.
NMDC is projected to almost double its production capacity to 100 million tonnes (MT) by 2030.
This ambitious expansion will significantly improve the company’s infrastructure, operations and global position, aligning with the country’s industrial growth.
The expansion of the Power supply It is driven by growing domestic and international demand for iron ore, fueled by rapid industrialization.
The company’s strategic investment plan focuses on increasing production capacity and improving evacuation infrastructure, NMDC said in a statement.
Key initiatives include the development of advanced sludge pipelines, pellet and beneficiation plants, and a robust network of stockyards.
The transition from 45 MT to 100 MT by 2030 is ambitious but based on sustainability and innovation, said Amitava Mukherjee, CMD (additional charge), NMDC.
“Our roadmap is not just about increasing production, but doing so responsibly. We are dedicated to reducing our environmental impact while making a positive contribution to the communities we serve,” he said, with a commitment to achieving sustainable growth.
This strategic effort will require significant capital investment, with over Rs 2,200 crore allocated for fiscal year 2025. Investments will primarily focus on the pipeline and new processing plants, which are crucial to improving efficiency, minimizing environmental impact and strengthening the Power supply China’s global competitiveness, NMDC said.
NMDC is also expanding rail transport by increasing the capacity of the KK line from 28 MTPA to 40 MTPA, installing a 15 MTPA slurry pipeline and constructing mixing yards.
To maximise utilisation of iron ore resources, the company is developing a four million tonne per annum (MTPA) beneficiation plant at Bacheli and a 2 MTPA pellet plant at Nagarnar, with plans to expand the latter to 6 MTPA.
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