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State-owned NLC India has announced its intention to participate in upcoming auctions for critical mineral resources, aiming to achieve an annual mining capacity of one million tonnes (MT) by the fiscal year 2029-30. The company, which has long been involved in the mining of coal and lignite as well as power generation, recognizes the growing demand for critical minerals essential for various applications, from semiconductor manufacturing to renewable energy projects, including solar panels, wind turbines, and advanced batteries.
In a recent report, NLC India stated, "With the recent developments in the renewable energy sector and the importance of the critical minerals required for RE (renewable energy), we are in the process of participating in upcoming auctions and envision achieving a critical mineral mining capacity of 1.0 MTPA by 2029-30."
The company plans to leverage its extensive experience in mining operations, which dates back to 1967, to establish expertise in the critical mineral sector. Once established in the domestic market, NLC India will also explore opportunities for overseas ventures.
The Union Budget for 2024-25 has proposed the launch of a Critical Mineral Mission aimed at boosting domestic production, recycling of critical minerals, and overseas acquisition of mineral assets. This initiative is designed to secure the country’s critical mineral supply chain and enhance the value chain through technological, regulatory, and financial improvements that promote innovation, skill development, and global competitiveness in mineral exploration, mining, beneficiation, processing, and recycling.
In addition to its ambitions in critical minerals, NLC India aims to increase its renewable energy capacity from 1,431 MW to 10,110 MW by 2030. The company is also focusing on policies and regulatory changes that encourage market liquidity and competitive pricing to support the transition to a sustainable energy mix. |
