NTPC’s mining division, an Indian power producer, is set to venture into the global market to procure battery minerals like lithium, cobalt, and nickel, according to information from three undisclosed sources reported by Reuters on Monday. India, a significant contributor to greenhouse gas emissions, has been actively seeking partnerships with other nations to secure essential minerals from resource-rich regions such as Australia, Argentina, and Chile. India has committed to achieving net-zero greenhouse gas emissions by 2070.
One of the sources within the company expressed their interest in diversifying into critical minerals, specifically highlighting lithium, nickel, and cobalt. However, the sources did not provide details regarding the specific countries with which India intends to engage for sourcing battery minerals.
In a move to support its clean energy initiatives, the Indian government had identified 30 minerals, including nickel, titanium, vanadium, and tungsten, as crucial components. NTPC Mining is also planning to explore uranium mining within India, as per the sources’ information. Following the Reuters report on the company’s intentions, NTPC’s shares experienced a significant increase, rising by up to 2%.
