Business · Companies · 7 hrs ago
NMDC reportedly explores lithium investments in Russia with Rosatom
India’s state-run miner NMDC has reportedly discussed investing in Russian lithium projects with Rosatom, Russia’s state nuclear company.
The discussions were described as preliminary, and Rosatom says it is not currently in talks with NMDC.
NMDC officials reportedly met Rosatom during a visit to Russia last month and also spoke with other Russian companies about mining and processing lithium.
India relies heavily on imported critical minerals, including lithium, which is used in batteries and electric vehicles.
India has approved incentives to expand domestic lithium and nickel processing, but that capacity remains at an early stage.
Russia has no commercial lithium production yet, though a joint venture involving Rosatom and Nornickel is developing a deposit, with production expected by 2030.
NMDC Ltd. is reportedly in preliminary talks with Russia’s Rosatom about investing in Russian lithium projects.
Three people familiar with the discussions said NMDC was interested in exploring lithium mining and processing opportunities in Russia.
Rosatom said it was not currently engaged in talks with NMDC, while NMDC did not respond to a request for comment.
India relies heavily on imports for lithium, mainly from China, Vietnam and Ecuador.
Russia has large lithium reserves but no commercial production; production at a Rosatom-Nornickel project is expected to begin by 2030.
- Who
- Indian state-run miner NMDC Ltd. and Russia’s state nuclear firm Rosatom.
- What
- NMDC is reportedly exploring investment in Russian lithium projects. The discussions are described as preliminary.
- When
- NMDC officials visited Russia last month; the sources were published on November 10, 2026.
- Where
- Russia.
- Why
- India is seeking to secure lithium supplies for its battery and electric-vehicle industries.
This story does not have two clearly opposing sides.
NMDC officials visited Russia for a conference and two sources said they held talks with Rosatom.
India’s cabinet approved an incentive policy worth 28.14 billion rupees to boost domestic lithium and nickel processing.
Commercial production is expected to begin at the lithium deposit being developed by Rosatom and Nornickel.
- Talks
- Preliminary, according to three people familiar with the matter
- NMDC team
- 12 members, assigned to due diligence on potential critical mineral assets
- India incentive policy
- 28.14 billion rupees ($297 million)
- Current lithium imports
- Primarily from China, Vietnam and Ecuador
- Russian project
- Polar Lithium, a joint venture between Rosatom and Nornickel
- Expected production start
- 2030 for the Polar Lithium project
2 sources
What people are saying
We should explore opportunities for long-term lithium supply arrangements and encourage Indian companies to engage with Russian companies in mining, processing and refining projects.