India steps up global lithium hunt as NLC nears Africa deal with Russian firm » Capital News

July 12 – India’s race to secure critical minerals for its clean energy ambitions is gaining momentum, with state-owned NLC India Ltd nearing a deal to source lithium from Africa through a partnership with a Russian government-owned firm.

According to sources familiar with the matter, the company is at the final stage of talks for equity participation in a lithium block located in Mali, West Africa. The deal is part of a broader strategy by India to reduce its reliance on imports and ensure steady access to key materials for electric vehicle (EV) batteries and renewable energy technologies.

Lithium, often referred to as “white gold,” is crucial to India’s clean energy transition. As demand for EVs grows, securing stable supplies has become a top priority for the government and industries alike.

While NLC India’s core business lies in lignite and coal mining and power generation, the company has steadily expanded into renewable energy and mineral exploration. It recently won two critical mineral blocks—phosphorite and limestone—in Chhattisgarh during the fifth round of auction.

In the March 2025 quarter, NLC India reported a consolidated profit of ₹468.46 crore, a significant jump from ₹113.95 crore in the same period the previous year.