NLC India aims critical mineral mining capacity of 1 MTPA by FY30

New Delhi: tate-owned NLC India is looking forward in the process of participating in the upcoming auctions of critical mineral resources and aims to achieve the annual capacity of mining one million tonnes of such materials by 2029-30.

NLC India's core business includes the mining of coal and lignite as well as power generation.

Achieving the critical mineral capacity gives significance amid increasing demand for these resources for a wide range of activities from semiconductor manufacturing to renewable energy projects, including those related to the production of solar panels, wind turbines, and advanced batteries for storage and transportation.

"With the recent developments in the renewable energy sector and the strategic 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 said in its recent report.

The company had earlier said that once it gets expertise in mining critical minerals in the domestic market, it will also explore the possibility overseas.

According to NLC India, the public sector enterprise has been in mining operations since 1967, and therefore it wants to utilize its core competence in the critical mineral sector.

The Critical Minerals Mission aims to secure the country's critical mineral supply chain by ensuring their availability from domestic and foreign sources.

It aims to strengthen the value chain by enhancing technological, regulatory, and financial ecosystems to foster innovation, skill development, and global competitiveness in mineral exploration, mining, beneficiation, processing, and recycling.