NLC India in advanced talks with Russian firm; to source lithium from African mines – check details – OXBIG NEWS NETWORK-OxBig News Network

NEW DELHI: NLC India, a state-owned enterprise, is in advanced negotiations with a Russian government-backed entity to secure lithium supplies from its mine in Africa, marking a key step in securing critical minerals for India’s energy transition.This initiative is crucial as India implements strategies to secure consistent lithium supplies to support its clean energy objectives.According to PTI, quoting sources, NLC India is negotiating with a Russian public sector firm regarding equity participation in a lithium mining block situated in Mali, Africa.India’s focus extends to both domestic and international lithium block exploration and development, driven by increasing demand from electric vehicle battery producers.NLC India’s primary operations encompass coal and lignite mining alongside power generation. The public sector undertaking has expanded its portfolio to include renewable energy and coal mining ventures both within India and internationally.The company successfully secured two strategic mineral blocks during the fifth auction round, acquiring phosphorite and limestone blocks in Chhattisgarh.NLC India Ltd announced a substantial increase in consolidated profit, reaching Rs 468.46 crore for the quarter ending March 2025, more than four times higher than Rs 113.95 crore recorded in the same period last year.