NMDC exploring lithium assets in Africa and Australia, source says

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NEW DELHI:

Iron ore miner

NMDC Ltd is exploring

lithium assets

in

Africa

and

Australia

and is currently in negotiations, a source with direct knowledge of the matter said on Friday.
“We are a government company and we want to use the reservation route instead of auctions,” the source said, referring to taking over a mining block by being nominated to do so by the government.

NMDC

did not immediately respond to a Reuters request for comment.
In June last year, Reuters reported that NMDC’s unit Legacy Iron Ore had signed a lithium exploration pact with Australia’s Hancock Prospecting Pty Ltd.
Additionally, NMDC is seeking lithium

blocks

from the

Indian government

on a nomination basis, according to the source.
NMDC shares were down 1.6% on Friday.