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Shares of NTPC witnessed an early-morning surge of up to 2 per cent on Monday following a report that said the company’s mining arm may explore overseas sourcing of battery minerals, including lithium, cobalt, and nickel.
At around 12:57 pm, NTPC shares were trading 1.23 per cent higher at Rs 239.10.
The move, confirmed by three sources to Reuters, aligns with India’s efforts to secure essential minerals from resource-rich nations such as Australia, Argentina, and Chile, as it aims to achieve net-zero greenhouse gas emissions by 2070.
“We are keen to diversify into critical minerals, specifically lithium, nickel, and cobalt,” stated one of the sources within the company. However, the sources did not specify the countries India will engage with for battery minerals sourcing.
In July, the Indian government identified 30 minerals, including nickel, titanium, vanadium, and tungsten, as crucial to drive its clean energy initiatives.
Additionally, NTPC Mining plans to explore uranium mining within India, as indicated by the sources
