Indian state-run miner NMDC Ltd is in preliminary talks with Russia's state nuclear firm Rosatom to invest in Russian lithium projects, Reuters reported on Tuesday, citing three people familiar with the matter. The discussions come as India steps up efforts to secure supplies of the metal for its battery and electric-vehicle industries.

Source: Reuters via Mining.com

NMDC officials visited Russia last month for a conference and held talks with Rosatom during the visit, two of the people said. A third person confirmed the meeting and said NMDC was keen to explore lithium mining and processing opportunities in Russia and had also held discussions with other Russian companies. All three asked not to be named because the talks are confidential, and they stressed the discussions remain at an early stage.

Russia holds large lithium reserves but has no commercial lithium production yet. Rosatom and Russian miner Nornickel are developing the country's largest lithium deposit through their Polar Lithium joint venture, with commercial production expected to begin by 2030. The second-most advanced project is Arctic Lithium's Polmostundrovskoye deposit in the Murmansk region. Polar Lithium was placed under United States sanctions early last year, a factor any Indian investment would have to reckon with.

The reported talks fit NMDC's wider push beyond iron ore. The company said last year it was exploring acquisition opportunities for critical minerals in Africa, Australia and South America as part of a global diversification strategy. They also follow the Union Cabinet's recent approval of a Rs 2,814-crore incentive policy to boost domestic processing of lithium and nickel, as New Delhi works to cut dependence on imported critical minerals.

For now, the Rosatom track is exploratory only: there is no confirmed deal, no announced investment figure, and — on Rosatom's own account — no live negotiation. Any progress would be a significant step in India's hunt for secure lithium supplies, but it has not happened yet.