Indian iron ore miner NMDC Ltd is exploring lithium assets in Africa and Australia and is currently in negotiations, a source with direct knowledge of the matter said on Friday.
“We are a government company and we want to use the reservation route instead of auctions,” the source said, referring to taking over a mining block by being nominated to do so by the government.
NMDC did not immediately respond to a Reuters request for comment.
In June last year, Reuters reported that NMDC’s unit Legacy Iron Ore had signed a lithium exploration pact with Australia’s Hancock Prospecting Pty Ltd.
Additionally, NMDC is seeking lithium blocks from the Indian government on a nomination basis, according to the source.
NMDC shares were down 1.6 per cent on Friday.
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First Published: Mar 22 2024 | 12:33 PM IST
