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India in Talks with Sri Lanka to Acquire Graphite Mines

New Delhi, India is in discussions with Sri Lanka to acquire graphite mines in the island nation. The demand for graphite is steadily increasing, as it is the most common material used for anodes in lithium-ion and other batteries.

Sources report that the Indian government has initiated talks with the Sri Lankan government regarding the acquisition of graphite mines. However, these discussions are at a very preliminary stage, and further details have not been disclosed.

Sri Lanka is known for its high-quality graphite, which features prominently on the list of 30 critical minerals released by the Indian government last year. Recently, the government announced that public sector companies such as Coal India, NMDC, and ONGC Videsh Ltd (OVL) will actively seek critical mineral assets overseas. OVL is the overseas investment arm of the state-owned Oil and Natural Gas Corporation.

Additionally, Khanij Bidesh India Ltd (KABIL), a joint venture of three public sector enterprises—National Aluminium Company Ltd (Nalco), Hindustan Copper Ltd (HCL), and Mineral Exploration and Consultancy Ltd (MECL)—was formed to scout for mineral assets abroad.

India is also exploring partnerships with Chile to access copper and lithium mineral assets. Critical minerals like copper, lithium, nickel, and cobalt are essential components in rapidly growing clean energy technologies, including wind turbines, electricity networks, and electric vehicles.

Source: PTI

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