NMDC EXPLORING LITHIUM ASSETS IN AFRICA, AUSTRALIA

NMDC exploring lithium assets in Africa, Australia

Indian iron ore miner NMDC Ltd is exploring lithium assets in Africa and Australia. The company is in negotiations and is seeking to use the reservation route instead of auctions to take over a mining block. NMDC's unit Legacy Iron Ore had earlier signed a lithium exploration pact with Australia's Hancock Prospecting Pty Ltd. The company is also seeking lithium blocks from the Indian government on a nomination basis.

About National Mineral Development Corporation (NMDC):

1. National Mineral Development Corporation (NMDC), a Navratna Public Sector Enterprise under the Ministry of Steel, Government of India is the single largest producer of iron ore in India.
2. NMDC is the single largest iron ore producer in India and operates mines in Chhattisgarh and Karnataka.
3. It’s headquarter in Hyderabad, Telangana.
4. NMDC is considered to be one of the low-cost producers of iron ore in the world.
5. NMDC operates the only mechanized diamond mine in India at Panna, Madhya Pradesh.
6. NMDC has its own R&D Centre at Hyderabad which is recognized as a Centre of Excellence by the United Nations Industrial Development Organization: UNIDO.
7. NMDC aims to positively uplift the lives of communities around its areas of operations and views Social Responsibility as an integral part of wealth creation.

Objective
Macro Objectives To expand the operations in the areas of Mining and Mineral Processing to meet the growing demands from domestic and international Markets. Achieve international standards in per capita productivity, value addition and cost effectiveness. To increase the iron ore production capacity to 67 MTPA by FY 2025. Setting up of Steel Plant at Nagarnar.	Micro Objectives Achieve growth by: (a) Expansion of existing mines (b) Operating new mines fully owned by NMDC or in Joint Venture Give thrust to exploration and exploitation of iron ore and other strategic & critical minerals. To maintain environment protection. To conserve mineral resources through scientific mining.