Indian state firms to seek strategic minerals overseas

Indian state-run metals firms Nalco, Hindustan Copper, and Mineral Exploration have formed a joint venture to explore and produce strategic important minerals overseas for domestic consumption.

The venture company, Khanij Bidesh India, would initially focus on exploring and processing lithium and cobalt minerals overseas and secure a stable supply chain for domestic industry. The venture will help ensure supply of minerals such as rare earths, rhenium, beryllium, niobium, strontium, tantalum, zirconium, feldspar and nickel. These minerals have specialised uses in a range of industries and modern applications.

India has to develop a robust battery supply chain if it is to meet ambitious electric vehicle uptake targets. And getting a stable supply source of lithium mineral would help the country in achieving its electric mobility goal and reduce dependence on imports. With no domestic production, India sources lithium ion (Li-ion) from countries such as China, Japan and South Korea.

Nalco is among 10 companies that India's state-owned space agency, the Indian Space Research Organisation (Isro) has selected for transfer of its technology to produce Li-ion batteries. Isro has developed Li-ion batteries 1.5Ah, 5Ah, 50Ah and 100Ah for its satellite and launch-vehicle applications. The technology is ready for transfer to Indian industries for undertaking the production of Li-ion batteries. Nalco has hinted at establishing the Li-ion battery plant in Odisha state.