Nalco Explores Rare Earth Mining and Reports Strong Aluminium Sector Performance

State-owned Nalco is exploring diversification into rare earth elements (REEs), magnesium, and chromite mining, with a bid advisor assessing domestic auction opportunities. This move aims to reduce India's import dependence on critical minerals vital for electronics, defence, renewables, and electric vehicles. Nalco is also evaluating acquiring a stake in an Australian lithium mine via the joint venture KABIL. Meanwhile, Nalco's CMD highlighted strong domestic aluminium demand and record financial performance, noting the sector's current unpreparedness for a green transition amid global trade dynamics.