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News: As per media sources, Coal India has entered into two non-disclosure agreements (NDAs) with firms based in New South Wales, Australia to mine critical minerals. Additionally, discussions are ongoing regarding lithium mines in Australia. Also, the company is actively exploring opportunities to mine critical minerals in Argentina.
Views: This is a positive development as it reflects Coal India’s aim to diversify its operations into critical mineral mining and pursue global resource acquisition. In a separate development, Coal India has also informed the exchanges that it has executed a MOU with Rajasthan Rajya Vidyut Utpadan Nigam Limited (RRVUNL) for exploring opportunities for securing power to meet the growing energy demand of the state of Rajasthan. It will initially focus on exploring the possibilities of setting up of 4,100 MW projects through a JV company to be constituted between RRVUNL and CIL, across the 5 identified projects viz. Pit-head Thermal Power Project, Solar Projects at Solar Parks, Pumped Storage Projects, Solar Projects at Existing TPPs and Wind Projects.
Impact: Positive