India’s NMDC explores lithium reserves for mining in Australia

Indian iron ore miner NMDC Ltd is exploring lithium reserves, 124.3 miles (about 200 km) off Perth, Australia, company officials said on Wednesday.

“We are in the process of exploring (lithium) in Australia…,” D K Mohanty, director production NMDC told reporters on the sidelines of an industry conference in Mumbai.

NMDC is the majority owner of a mine located in Mt Bevan in Australia, a second NMDC official, who is not authorised to speak to media, said, adding that the company hopes to start mining within two years.

India has been exploring ways to secure supplies of lithium, an important raw material used to make electric vehicle batteries, from some of the world’s top producers by acquiring overseas mines, as part of the South Asian nation’s efforts to push for making greener vehicles.

India in February found lithium deposits for the first time in the country and is planning to auction a block for mining.

(By Neha Arora; Editing by Savio D’Souza and Rashmi Aich)