Category : Business and economicsPublished on: May 20 2024
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The Indian government has directed public sector companies like Coal India, NMDC, and ONGC Videsh Ltd (OVL) to actively seek critical mineral assets overseas.
This initiative aims to secure vital resources necessary for industries such as clean energy technologies and electric vehicles, with these PSUs leveraging their established international market presence to expand their resource base under the guidance of a group of secretaries.
Coal India is actively pursuing lithium blocks in Chile, while NMDC is involved in gold mining in Australia and exploring lithium mining opportunities.
ONGC Videsh Ltd, the overseas investment arm of ONGC, will play a crucial role in this venture, utilizing its global energy market expertise to effectively explore and acquire critical mineral assets.
