In an ambitious move to diversify into critical mineral mining, Coal India Limited (CIL)is considering starting exploration and mining of lithium, a key element in India’s energy security strategy.
CIL is seeking to acquire a block from the government for lithium exploration, with plans to commence mining upon successful confirmation of lithium deposits. B Veera Reddy, Coal India’s Director (Technical), who also serves as the acting CMD of Central Coalfields Ltd., on Thursday in a media briefing informed about the company’s intention to obtain a government block for lithium exploration.
In addition, the largest coal mining company of the country is also aiming to explore critical minerals like lithium globally. “We are going to set up an office in Australia and we are in touch with ministry of mines,” Reddy said adding that the company has already identified some blocks in Australia, Chile, and Argentina.
Lithium, often referred to as the ‘cosmic’ mineral, is vital for the nation’s push towards zero carbon green energy. This strategic move aligns with India’s goals to transition to renewable energy sources in the coming years.
Reddy emphasized on the importance of critical minerals and CIL’s confidence in replicating its success in coal mining to mining lithium and other critical minerals.
Highlighting CIL’s dominant position in the Indian coal sector, where it contributes over 80% of the domestic coal production, Reddy pointed out the vast potential for exploration of critical minerals in India, which he believes has not been adequately tapped.
Lithium’s significance extends beyond electric vehicles, with its applications in medical technology, electronics, mobile phones, solar panels, wind turbines, and various renewable technologies.
The government had recently put up 24 critical minerals on auction including graphite, nickel, potash, and others, notifying them as critical and strategic minerals. With this, it attempts to secure minerals essential for advanced technology sectors. It has identified 100 blocks of critical minerals and will come out with the second tranche of auction before February.
