Mumbai: State-run NLC India is at an advanced stage of discussions with a Russian government-owned company for sourcing lithium from its mine in Africa.
The development assumes significance as India is taking measures to ensure a stable supply of lithium to meet the country's clean energy demand.
Sources privy to the development said that NLC India is in talks with a public sector company of Russia for equity participation in a lithium block in Mali, Africa.
India is focusing on exploring and developing lithium blocks both in the domestic market and overseas, as the demand for this critical mineral is growing, particularly from electric vehicle battery manufacturers.
NLC India's core business includes the mining of coal and lignite as well as power generation. The PSU has diversified into the renewable energy and coal mining business in India and abroad.
The company had bagged two critical and strategic mineral blocks in the fifth round of auction. It won two phosphorite and limestone blocks in the state of Chhattisgarh.
NLC India Ltd reported an over four-fold jump in its consolidated profit at Rs 468.46 crore in the quarter ended March 2025. The company had posted a consolidated profit of Rs 113.95 crore in the year-ago period.
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