Coal India to acquire lithium block in Argentina, Australia: Chairman
New Delhi April 05, 2025 dmanewsdesk: State-owned Coal India Limited (CIL) is in active discussions to acquire a lithium block in Argentina and is also exploring opportunities for a critical mineral block in Australia, according to CIL’s Chairman-cum-Managing Director, P.M. Prasad.
Speaking during the curtain-raiser of the 11th Asian Mining Congress and 11th International Mining Exhibition, Prasad confirmed that teams from CIL had visited Argentina multiple times, and government-to-government talks were underway.
The company is also looking for lithium blocks in Australia, a critical mineral essential for clean energy technologies, including the production of batteries for electric vehicles and wind turbines.
In response to concerns about coal supply, Prasad assured that there would be no shortage of coal at electricity generation units this year. “Currently, our coal stock at pitheads stands at 106 million tonnes, and there will be no shortage like last year,” he said.
CIL, which contributes over 80% of India’s coal production, is targeting a production of 875 million tonnes (MT) of coal in the current financial year. The company has set a dispatch target of 900 MT for FY26. In 2024-25, CIL produced 781.1 MT of coal, falling short of its target of 838 million tonnes for the fiscal year by about 7%.
Prasad also stated that the planned increase in coal prices, effective April 16, will have a minor impact on the company’s profitability.
On Tuesday, CIL’s board approved a Rs 10 per tonne price hike for both coking and non-coking coal, a move intended to contribute to the Coal Mines Pension Scheme-1998 corpus.
Source: TOI
