The stock prices of NTPC experienced an early-morning increase of up to 2 per cent on Monday in response to a report suggesting that the company's mining division might consider sourcing battery minerals such as lithium, cobalt, and nickel from overseas.
As of 12:57 p.m., NTPC shares were trading at Rs 239.10, up 1.23 per cent.
This strategic move, which has been confirmed by three reliable sources to Reuters, is in line with India's endeavours to secure essential minerals from resource-rich nations like Australia, Argentina, and Chile. India's objective is to achieve net-zero greenhouse gas emissions by 2070.
"One of the sources within the company expressed our eagerness to diversify into critical minerals, specifically lithium, nickel, and cobalt," although the sources did not specify the countries with which India plans to collaborate for sourcing battery minerals.
In July, the Indian government identified 30 minerals, including nickel, titanium, vanadium, and tungsten, as crucial for driving its clean energy initiatives.
Furthermore, based on information from these sources, NTPC Mining is contemplating the exploration of uranium mining within India.
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