NMDC Pursues Global Mining Ventures and Eyes Major Expansion by 2030

NMDC, India’s largest iron ore miner, is pursuing overseas mining opportunities for critical minerals like lithium in Australia. The company aims to nearly double its production capacity to 100 million tonnes by 2030, driven by growing demand. Key investments focus on enhancing infrastructure while adhering to sustainable practices.

NMDC, the country's largest iron ore miner, announced on Thursday its pursuit of mining opportunities for critical minerals abroad, including a lithium block in Australia.

Critical minerals such as copper, lithium, nickel, and cobalt are essential for clean energy technologies, including wind turbines, electricity networks, and electric vehicles.

Through its subsidiary, Legacy India Iron Ore Ltd, NMDC is actively pursuing overseas mining projects for lithium, cobalt, and nickel, according to a statement released by the company. This includes lithium mining operations in Australia.

In addition, NMDC is preparing to commence production at its eight-million-tonne coking coal block by December next year, aiming to reduce the country's reliance on coal imports.

The company plans to nearly double its production capacity to 100 million tonnes by 2030, a move set to significantly enhance its infrastructure, operations, and global presence, aligned with the country's industrial growth.

Driven by increasing domestic and international demand, NMDC's strategic investment plan focuses on augmenting production capacity and improving evacuation infrastructure. Key initiatives include advanced slurry pipelines, pellets and beneficiation plants, and a robust network of stockyards.

"Our roadmap is not just about increasing production; it's about doing so responsibly," said Amitava Mukherjee, CMD (Additional Charge) of NMDC, emphasizing the company's commitment to sustainable growth.

This strategic endeavour requires significant capital expenditure, with over Rs 2,200 crore allocated for FY25. Investments will prioritize the slurry pipeline and new processing plants, crucial for enhancing efficiency, minimizing environmental impact, and strengthening the PSU's global competitiveness.

NMDC is also expanding rail transport by increasing the KK line's capacity and constructing blending yards, while developing a beneficiation plant in Bacheli and a Pellet Plant at Nagarnar.

(With inputs from agencies.)