Indian power producer NTPC’s mining arm will explore overseas sourcing of battery minerals such as lithium, cobalt and nickel, three sources told Reuters on Monday.
The South Asian country, among the world’s top greenhouse gas emitters, has been pursuing pacts with other countries to secure key minerals in resource-rich countries such as Australia, Argentina and Chile. India aims to be a net zero emitter of greenhouse gases by 2070.
“We are keen to diversify into critical minerals, specifically lithium, nickel and cobalt,” one of the sources in the company said. The sources did not specify which countries India will be talking to, to explore battery minerals sourcing.
The Indian government in July listed identified 30 minerals, including nickel, titanium, vanadium and tungsten as critical to drive its clean energy push.
NTPC Mining will also explore mining uranium in India, the sources said.
Shares of NTPC rose as much as 2% after Reuters reported on the company’s plans.
