Coal India forays into non-coal mineral mining with graphite project | Company News
Graphite, which has multiple applications including use in batteries, is a key area of focus amid the ongoing EV revolution in India.
Graphite is the first mineral Coal India Limited (CIL) will diversify its operations beyond coal, following an order from the Ministry of Mines granting the company a composite license for prospecting and mining.
This license pertains to the Khattali Chhoti Graphite Block in Alirajpur, Madhya Pradesh.
“This is the first mineral other than coal for us,” Debasish Nanda, Director of Business Development at Coal India, told PTI.
CIL is required to pay a mining premium of 150.05 per cent of the value of minerals dispatched to the state government.
Coal India said the timeline is one year for the grant of the composite license and three years for the execution of the mining lease deed, the miner informed bourses.
Currently, the project is in a very preliminary phase, necessitating further exploration.
In alignment with the government’s Atmanirbharta vision, Coal India has formed a special team to focus on other critical minerals both globally and within India.
Graphite, which has multiple applications including use in batteries, is a key area of focus amid the ongoing EV revolution in India.
Nanda mentioned that it is too early to estimate the capital expenditure for the project. However, Coal India will leverage its coal mining expertise from its subsidiary Central Mine Planning & Design Institute Limited (CMPDI) during the initial phase.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
First Published: Jul 21 2024 | 8:08 PM IST
