India’s NMDC in Talks with Russia’s Rosatom to Explore Lithium Investment Opportunities

India’s state-owned mining company NMDC Ltd is in preliminary discussions with Russia’s nuclear energy corporation Rosatom over potential investments in Russian lithium projects, according to sources familiar with the matter. NMDC officials reportedly visited Russia last month and held meetings with Rosatom as India seeks to secure reliable lithium supplies for its growing electric vehicle and battery industries.

The discussions are understood to cover opportunities in lithium mining and processing, with NMDC also exploring partnerships with other Russian companies. However, the talks remain at an early stage. Rosatom said it was not currently engaged in discussions with NMDC, while the Indian miner did not respond to Reuters’ request for comment. NMDC has also been exploring critical mineral acquisition opportunities in Africa, Australia and South America.

India is seeking to reduce its dependence on imported critical minerals, particularly lithium, which it currently sources mainly from China, Vietnam and Ecuador. The government recently approved an incentive package worth ₹28.14 billion to encourage domestic lithium and nickel processing. Russia could become an alternative supply partner, although its major lithium projects are still under development, with commercial production expected around 2030.

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