NMDC exploring lithium belongings in Africa and Australia, supply says

NEW DELHI: Iron ore miner NMDC Ltd is exploring lithium belongings in Africa and Australia and is at the moment in negotiations, a supply with direct information of the matter mentioned on Friday. “We are a government company and we want to use the reservation route instead of auctions,” the supply mentioned, referring to taking up a mining block by being nominated to take action by the federal government.NMDC didn’t instantly reply to a Reuters request for remark. In June final 12 months, Reuters reported that NMDC’s unit Legacy Iron Ore had signed a lithium exploration pact with Australia’s Hancock Prospecting Pty Ltd. Moreover, NMDC is looking for lithium blocks from the Indian authorities on a nomination foundation, based on the supply. NMDC shares had been down 1.6% on Friday.

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