CIL Ventures into Lithium for Clean Energy Future

State-owned Coal India Ltd is exploring lithium resources in Australia and Argentina, aiming to diversify from coal dependency. CIL plans to increase coal production and offtake by 2025-26. A recent price hike in coal is expected to have a minor revenue impact. The focus aligns with clean energy demands.

Coal India Ltd (CIL), a state-owned company, is positioning itself in the global clean energy market by exploring lithium blocks in Australia and Argentina, according to company Chairman P M Prasad.

Attending the 11th Asian Mining Congress, Prasad highlighted CIL's goal to escalate its coal production to 875 million tonnes and offtake to 900 million tonnes by the fiscal year 2025-26.

Despite a marginal price increase in both coking and non-coking coal, CIL expects only a slight revenue change. This strategic move towards critical minerals underlines CIL's shift from coal dependency in response to global demands for cleaner energy solutions.

(With inputs from agencies.)