NTPC’s mining arm will look for battery materials in other countries.
The South Asian country, which is one of the world’s leading emitters of greenhouse gases, has been attempting to reach deals with other governments in order to purchase critical minerals in resource-rich nations such as Australia, Argentina, and Chile. India aspires to be a net zero emitter of greenhouse emissions by 2070.
On Monday, three sources told Reuters that NTPC’s mining business will investigate foreign purchase of battery ingredients such as lithium, cobalt, and nickel.
The South Asian country, which is one of the world’s leading emitters of greenhouse gases, has been attempting to reach deals with other governments in order to purchase critical minerals in resource-rich nations such as Australia, Argentina, and Chile. India aspires to be a net zero emitter of greenhouse emissions by 2070.
“We are eager to diversify into critical minerals, specifically lithium, nickel, and cobalt,” according to one of the company’s sources. The sources did not specify which countries India will approach in order to get battery minerals.
The Indian government listed 30 minerals, including nickel, titanium, vanadium, and tungsten, as critical to boosting its renewable energy drive in July.
According to reports, NTPC Mining might also investigate uranium mining in India.
After Reuters reported on the company’s intentions, NTPC shares rose by up to 2%.
