NLC India's Ambitious Plan: Mining Critical Minerals to Boost Renewable Energy

NLC India plans to significantly boost its mining of critical minerals, aiming for an annual capacity of one million tonnes by 2029-30. The company seeks to support the renewable energy sector through participation in critical mineral auctions and enhancing its core competencies in mining and power generation.

State-owned NLC India is gearing up to participate in upcoming auctions for critical mineral resources, aiming to achieve an annual mining capacity of one million tonnes by 2029-30.

Known for its coal and lignite mining and power generation, NLC India's focus on critical minerals is crucial given the rising demand for these materials in semiconductor manufacturing, renewable energy projects, and advanced energy storage solutions.

In its recent report, the company emphasized the strategic importance of critical minerals for the renewable energy sector and announced its intention to become proficient in this domain domestically before exploring international opportunities.

NLC India, which commenced mining operations in 1967, aims to leverage its extensive expertise to establish a strong foothold in the critical mineral sector. The Union Budget 2024-25 also supports this initiative, proposing the Critical Mineral Mission to boost domestic production, recycling, and overseas acquisition of such minerals.

The mission seeks to secure the country's critical mineral supply chain, enhance technological and regulatory frameworks, and promote innovation and global competitiveness.

NLC India is also set to expand its renewable energy capacity from 1,431 MW to 10,110 MW by 2030, prioritizing policy and regulatory changes to encourage market liquidity and competitive pricing, thereby facilitating a sustainable energy transition.

(With inputs from agencies.)