India’s state-owned mining company NMDC Ltd is exploring investment opportunities in Russian lithium projects and has held preliminary discussions with Russia’s state nuclear corporation Rosatom. The move is part of India’s efforts to diversify its critical mineral supply sources and secure lithium for its battery and electric vehicle industries.
According to a Reuters report, citing three people familiar with the matter, NMDC officials visited Russia last month to attend a conference and held discussions with Rosatom. The company has also explored opportunities with other Russian firms.
The discussions reportedly cover potential investments in lithium mining and processing projects. However, the talks remain at an early stage.
Rosatom discussions remain preliminary
Three sources familiar with the discussions confirmed that NMDC officials had met representatives of Rosatom. One source said the Indian company was keen to explore opportunities in Russian lithium mining and processing.
However, a Rosatom spokesperson told Reuters that the Russian company was not currently engaged in talks with NMDC. NMDC did not respond to Reuters’ request for comment.
The reported discussions come as NMDC expands its search for critical mineral assets overseas. The company had earlier indicated that it was exploring acquisition opportunities in Africa, Australia and South America as part of its mineral diversification strategy.
NMDC has also formed a 12-member team to conduct due diligence on potential critical mineral assets.
Russia’s emerging lithium projects
Russia has significant lithium reserves but does not yet have commercial lithium production. Rosatom and mining company Nornickel are developing the country’s largest lithium deposit through their joint venture, Polar Lithium.
Commercial production from the project is expected to begin by 2030. Another major project, Arctic Lithium, is developing the Polmostundrovskoye lithium deposit in the Murmansk region, with commercial production also targeted by 2030.
However, Polar Lithium and several other Russian entities were placed under US sanctions in 2025, a factor that could influence investment and cooperation decisions.
India pushes domestic critical mineral processing
India is also working to strengthen its domestic processing capabilities for critical minerals. The Union Cabinet recently approved an incentive policy worth ₹2,814 crore to encourage domestic processing of lithium and nickel.
India’s processing capacity for critical minerals remains at an early stage, leaving the country dependent on imports. Lithium supplies currently come primarily from China, Vietnam and Ecuador.
The Federation of Indian Mineral Industries has also called for India to explore long-term lithium supply arrangements and encourage domestic companies to participate in mining, processing and refining projects in Russia.
The potential NMDC-Rosatom engagement reflects India’s wider strategy to secure access to critical minerals required for electric vehicle batteries, energy storage and the clean energy transition.
