India is considering taking over a graphite mine in Sri Lanka

New Delhi, India, is in talks with Sri Lanka to acquire a graphite mine in the island nation. Demand for graphite continues to grow because it is the most common material used for anodes in lithium-ion and other batteries.

Sources said the Indian government was in talks with the Sri Lankan government to acquire a graphite mine there.

However, the sources refused to provide further details, saying the talks were at a very early stage.

The graphite found in Sri Lanka is of very good quality.

Graphite is on a list of 30 critical minerals published by the government last year.

The government recently said that public sector companies Coal India, NMDC and ONGC Videsh Ltd (OVL) will start actively exploring for key mineral assets abroad.

OVL is the foreign investment arm of the state-owned Oil and Natural Gas Corporation.

These public sector undertakings already have some presence abroad.

Meanwhile, Khanij Bidesh India Ltd (KABIL), a joint venture of three public sector undertakings, was formed to explore for mineral resources abroad. KABIL is owned by three public sector undertakings – National Aluminum Company Ltd (Nalco), Hindustan Copper Ltd (HCL) and Mineral Exploration and Consultancy Ltd (MECL).

India is seeking contacts with Chile to gain access to the country’s copper and lithium mineral resources.

Critical minerals such as copper, lithium, nickel and cobalt are important components of rapidly developing clean energy technologies – from wind turbines and electrical grids to electric vehicles.

Source: PTI

–Agencies