Coal India looking to acquire critical minerals in India and abroad
Kolkata: Coal India Limited (CIL) has intensified efforts to acquire critical minerals, including lithium, both in the domestic market and abroad, and will continue participating in the auction of such mineral blocks, according to the chairman of the world's largest coal producer on August 21, media reports said.
Critical minerals like lithium are essential for producing clean energy technologies, ranging from wind turbines to electric vehicles.
They are especially in demand for manufacturing batteries used in electric cars.
During the company's 50th Annual General Meeting, CIL Chairman P M Prasad mentioned that the company is actively pursuing the acquisition of critical mineral assets, such as lithium and cobalt, both in India and abroad, to reduce the country's dependence on imports of these minerals.
He stated that Coal India Limited (CIL) will continue to take part in the e-auction of critical mineral blocks offered by the mines ministry.
CIL has already made its entry into the domestic critical mineral sector by emerging as the preferred bidder for the Khattali Chotti graphite block in Alirajpur district, Madhya Pradesh.
This marks the company's first venture into non-coal mineral mining.
He stated that this accomplishment was achieved during the tranche-II forward auction held by the Ministry of Mines on July 9.
Prasad emphasized that Coal India Limited's (CIL) vision is to prevent any coal shortages in the country and to achieve self-reliance in coal production.
As the leading producer of coal in India, CIL contributes approximately 80 percent of the nation's total coal output.
He further stated that the company is dedicated to boosting the production and supply of high-quality coal to the mandated levels, ensuring that citizens receive power at a fair price.
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