NMDC looking to explore mining opportunities for critical minerals abroad

The country's largest iron ore miner NMDC on Thursday said it is pursuing mining opportunities for critical minerals abroad which includes lithium block in Australia.

Critical minerals such as copper, lithium, nickel and cobalt are important components in rapidly growing clean energy technologies - from wind turbines and electricity networks to electric vehicles.

"NMDC is... pursuing overseas mining opportunities for critical minerals like lithium, cobalt, and nickel through its subsidiary, Legacy India Iron Ore Ltd, which includes lithium mining operations in Australia," the company said in a statement.

NMDC is also preparing to begin the production of its eight million tonnes of coking coal block by December next year.

This move aims to reduce the country's reliance on the import of coking coal.

NMDC is set to nearly double its production capacity to 100 million tonnes (MT) by 2030.

This ambitious expansion will significantly enhance the company's infrastructure, operations, and global standing, aligning with the country's industrial growth.

The expansion of the PSU is driven by the growing domestic and international demand for iron ore, fueled by rapid industrialisation.

The company's strategic investment plan focuses on augmenting production capacity and improving evacuation infrastructure, NMDC said in a statement.

Key initiatives include the development of advanced slurry pipelines, pellets and beneficiation plants, and a robust network of stockyards.

The transition from 45 MT to 100 MT by 2030 is ambitious yet rooted in sustainability and innovation, Amitava Mukherjee, CMD (Additional Charge) of NMDC said.

"Our roadmap is not just about increasing production; it's about doing so responsibly. We are dedicated to reducing our environmental impact while positively contributing to the communities we serve," he stated, with a commitment to sustainable growth.

This strategic endeavour will require significant capital expenditure, with over Rs 2,200 crore allocated for FY25. The investments will primarily focus on the slurry pipeline and new processing plants, which are crucial for enhancing efficiency, minimising environmental impact, and strengthening the PSU's global competitiveness, NMDC said.

NMDC is also expanding rail transport by increasing the KK line's capacity from 28 MTPA to 40 MTPA, laying a 15 MTPA slurry pipeline, and constructing blending yards.

To maximise the utilisation of iron ore resources, the company is developing a four million tonne per annum (MTPA) beneficiation plant in Bacheli and a 2 MTPA Pellet Plant at Nagarnar, with plans to expand the latter to 6 MTPA.