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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 companys core operations include the mining of coal and lignite, along with power generation.
The focus on critical minerals is increasingly significant due to the rising demand for these resources in various sectors, including semiconductor manufacturing and renewable energy projects. These minerals are essential for producing solar panels, wind turbines, and advanced batteries used for energy storage and transportation.
In its recent report, NLC India stated, "With the recent developments in the renewable energy sector and the importance of 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 has expressed plans to explore international opportunities for critical mineral mining once it gains expertise in the domestic market. Established in 1967, NLC India intends to leverage its extensive experience in mining operations to make significant strides in the critical minerals sector.
The Union Budget 2024-25 has proposed the launch of a Critical Mineral Mission aimed at boosting domestic production, recycling, and the overseas acquisition of critical mineral assets. This initiative seeks to secure the countrys supply chain for these vital resources while enhancing the technological, regulatory, and financial frameworks to promote innovation, skill development, and competitiveness in mineral exploration, mining, beneficiation, processing, and recycling.
Additionally, NLC India plans to increase its renewable energy capacity from 1,431 MW to 10,110 MW by 2030. The company is prioritizing regulatory changes and policies that promote market liquidity and competitive pricing, driving the transition toward a sustainable energy mix. |
