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

16 Aug 2022 CW Team

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.

Infrastructure Urban

06 Jul 2026

ABS Marine Sees CRISIL Credit Rating Upgrade

ABS Marine Services has secured an upgrade to its long term and short term credit ratings from CRISIL, reflecting improved profitability and revenue growth through long term contracts. CRISIL moved the long term rating from BBB+/Stable to A-/Stable and revised the short term rating from A2 to A2+. The action signals strengthened financial metrics and operational resilience. The company benefited from durable client relationships with firms such as ONGC and Schlumberger. The rating decision followed stronger cash flows and an enlarged bank loan facility, which increased from Rs 3,705 million (m..

Project BRAHMANK Marks 16 Years Of Strategic Roads In Arunachal

Project BRAHMANK is marking 16 years of work to establish strategic road and bridge links across Arunachal Pradesh, maintaining and developing 811 kilometres of roads and nearly 86 bridges that range from small culverts to large steel and arch bridges. These transport links are described as critical for ensuring year-round movement of defence personnel, equipment and essential supplies while improving everyday travel for people in remote villages. The project balances national security requirements with regional development by focusing on reliable access in challenging terrain. Notable enginee..

Longleng CSOs Give One Week Ultimatum Over Two-Lane Highway

Civil society organisations (CSOs) in Longleng district have demanded immediate restoration of the deteriorating Changtongya–Longleng two-lane road and sought a detailed status report on the stalled construction within one week. The demand followed a consultative meeting convened under the Phom Peoples' Council (PPC) to discuss welfare and development concerns. PPC president YB Angam Phom said prolonged non-maintenance had caused hardship to commuters and affected transportation, local commerce and the district's development. The meeting urged authorities to undertake immediate restoration a..