CIL actively pursuing acquisition of critical minerals, says chairman

Coal India on Wednesday said it is actively pursuing acquisition of critical minerals, including lithium, in the domestic market and overseas and stressed that it would continue to take part in the auction of such blocks.

Critical minerals, including lithium, play a crucial role in the production of clean energy technologies, from wind turbines to electric cars. They are particularly in demand for the production of batteries for electric cars.

"With an objective to reduce the import dependence of critical minerals like lithium, cobalt, CIL is actively pursuing acquisition of these mineral assets in India and abroad," Coal India Ltd (CIL) Chairman P M Prasad said during 50th Annual General Meeting of the company.

CIL, he said, will continue to participate in e-auction of critical mineral blocks offered by the mines ministry.

CIL has successfully opened its account in domestic critical mineral asset, emerging as the preferred bidder for Khattali Chotti graphite block in Alirajpur district of Madhya Pradesh, he said.

It would be the company's first ever non-coal mineral mining venture.

"The...feat was achieved under tranche-II forward auction held on July 9 by Ministry of Mines," he stated.

The vision of CIL, Prasad said, is to ensure that there is no shortage of coal in the country and to make it self reliant in terms of the dry fuel.

CIL spearheads the nation's coal production, contributing around 80 per cent to the entire coal output.

The company, he said, is committed to increasing the production and supplies of the quality coal to the mandated levels to ensure the country's citizens get power at just price.