NEW DELHI: Iron ore miner NMDC Ltd is exploring lithium assets in Africa and Australia and is presently in negotiations, a source with direct information of the matter stated on Friday.
“We are a government company and we want to use the reservation route instead of auctions,” the source stated, referring to taking up a mining block by being nominated to take action by the federal government.
NMDC didn’t instantly reply to a Reuters request for remark.
In June final 12 months, 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 in search of lithium blocks from the Indian authorities on a nomination foundation, in keeping with the source.
NMDC shares have been down 1.6% on Friday.
“We are a government company and we want to use the reservation route instead of auctions,” the source stated, referring to taking up a mining block by being nominated to take action by the federal government.
NMDC didn’t instantly reply to a Reuters request for remark.
In June final 12 months, 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 in search of lithium blocks from the Indian authorities on a nomination foundation, in keeping with the source.
NMDC shares have been down 1.6% on Friday.
