NLC India's Strategic Global Quest for Rare Earth Elements Amidst Geopolitical Shifts

NLC India Ltd is exploring opportunities for sourcing rare earth elements overseas. With ongoing talks in Mali for lithium and in the Republic of the Congo for copper and cobalt, the company aims to produce one million metric tonnes of these essential minerals over the next five years.

NLC India Ltd, a state-owned company, is actively seeking international sources for rare earth elements, announcing exploratory talks in Mali and the Republic of the Congo for lithium, copper, and cobalt respectively.

These efforts come amid China's recent export restrictions significantly affecting the global supply chain of these essential minerals, which are crucial for manufacturing goods from home appliances to electric vehicles.

The company's Chairman and Managing Director Prasanna Kumar Motupalli detailed these strategic moves in conjunction with directives from India's mines and coal ministries, emphasizing the cautious approach being taken considering socio-economic factors.

(With inputs from agencies.)