NMDC looks to mine lithium, nickel, cobalt in foreign lands
COAL & MINING

NMDC looks to mine lithium, nickel, cobalt in foreign lands

State-owned NMDC is looking to explore for minerals like lithium and cobalt, which are used in electric vehicles, in foreign lands, its chairman and managing director Sumit Deb said last week. The company is also planning offshore mining of copper, nickel and gold.

NMDC Ltd, through Legacy Iron Ore Ltd in Australia, is looking to mine lithium, nickel, and cobalt which are used in EVs, Deb said at a FICCI event. Based in Perth, Legacy Iron Ore Ltd focuses on gold, iron ore and base metals. NMDC has 90.02 per cent equity in the company.

The company also has plans to explore other minerals like gold and copper in countries like Africa, Tanzania and Zimbabwe.

NMDC will also explore lithium reserves in India as "it has got exploration rights in Karnataka", Deb said.

On the upward iron ore price revision by NMDC, Deb said it was a marginal hike by the miner and the demand for the mineral would start picking up from the second quarter onwards.

NMDC, which is the largest iron ore producer and seller in India, on Thursday hiked prices of lump ore by Rs 200 a tonne and fines by Rs 100 per tonne with immediate effect. The company has fixed the prices of lump ore at Rs 4,100 per tonne and that of fines at Rs 2,910 a tonne.

See also:
Germany’s Vitesco sets up Talegaon plant automotive solutions
Mining projects financing to boost as Great Barrier Reef recovers


State-owned NMDC is looking to explore for minerals like lithium and cobalt, which are used in electric vehicles, in foreign lands, its chairman and managing director Sumit Deb said last week. The company is also planning offshore mining of copper, nickel and gold. NMDC Ltd, through Legacy Iron Ore Ltd in Australia, is looking to mine lithium, nickel, and cobalt which are used in EVs, Deb said at a FICCI event. Based in Perth, Legacy Iron Ore Ltd focuses on gold, iron ore and base metals. NMDC has 90.02 per cent equity in the company. The company also has plans to explore other minerals like gold and copper in countries like Africa, Tanzania and Zimbabwe. NMDC will also explore lithium reserves in India as it has got exploration rights in Karnataka, Deb said. On the upward iron ore price revision by NMDC, Deb said it was a marginal hike by the miner and the demand for the mineral would start picking up from the second quarter onwards. NMDC, which is the largest iron ore producer and seller in India, on Thursday hiked prices of lump ore by Rs 200 a tonne and fines by Rs 100 per tonne with immediate effect. The company has fixed the prices of lump ore at Rs 4,100 per tonne and that of fines at Rs 2,910 a tonne. See also: Germany’s Vitesco sets up Talegaon plant automotive solutions Mining projects financing to boost as Great Barrier Reef recovers

Next Story
Infrastructure Urban

Western Railway Seeks Rs 3.95 Billion Fee for BMC Water Pipelines

Western Railway has invoiced the Brihanmumbai Municipal Corporation for Rs 3.95 billion in Right of Way (RoW) licence fees covering a ten year period for underground water pipelines laid beneath railway land across Mumbai. The demand, disclosed through an RTI query by railway activist Samir Zaveri, requires payment in advance.These pipelines deliver filtered drinking water to millions of residents. Railway officials have based the charge on current market values of the land above the pipes, a valuation that has astonished civic authorities and policy experts.Zaveri points out that BMC su..

Next Story
Infrastructure Transport

Third Rail Tests Begin on Bengaluru Metro’s Pink Line

The long awaited Pink Line of Namma Metro has reached a key milestone as Bangalore Metro Rail Corporation Ltd (BMRCL) starts third rail electrification tests on the elevated section between Jayadeva and Tavarekere stations. This power supply check is the first in a series of technical validations required before the 21.3 km corridor can open.According to officials, the current trials cover the elevated stretch of the Kalena Agrahara–Nagawara route. Once the third rail passes safety checks, teams will move on to signal validation, telecommunications testing and loading trials to ver..

Next Story
Infrastructure Energy

MCL Plots Rs 400 Billion Thermal Plant, Green Projects

Mahanadi Coalfields Ltd (MCL) will invest about Rs 400 billion to build a 4,000 MW coal fired power station in partnership with Coal India and Odisha’s Energy Department.The miner also plans a high ash coal to ammonium nitrate plant (600,000 tpa) costing roughly Rs 117.82 billion with BCGCL and the state Industries Department.In renewables, MCL expects to spend Rs 120 billion on a 2,000 MW solar complex (ground mounted and floating), Rs 50 billion on a 500 MW pumped storage project, and Rs 9 billion on a 100 MW wind farm.These schemes align with MCL’s Vi..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?