NMDC explores lithium reserves in Australia for mining

According to corporate authorities, Indian iron ore miner NMDC Ltd is investigating lithium reserves 124.3 miles (nearly 200 kilometers) off the coast of Perth, Australia.

"We are exploring (lithium) in Australia..," D.K. Mohanty, director of production NMDC told reporters on the sidelines of an industry conference in Mumbai.

According to a second NMDC manager who is not licensed to speak to the media, the company is the majority owner of a mine in Mt Bevan, Australia, and wants to start mining within two years.

As part of its efforts to push for greener cars, India has been looking at ways to secure the supply of lithium, a crucial raw material needed to make electric vehicle batteries, from some of the world's top suppliers by acquiring mines abroad.

India first discovered lithium deposits in the country in February and plans to auction off a mining block.