Hindustan Zinc Ltd (HZL) is keen to acquire lithium assets as and when they are put on the block for auctions, CEO Arun Mishra said.
Lithium reserves of about 5.9 million tonnes have been identified in Salal-Haimna areas of Reasi district in Jammu and Kashmir (J&K) for the first time in India.
Auctions of the said reserves are likely to be held in December. The J&K administration is also in the process of appointing a transaction advisor.
"Absolutely. Why not?" Hindustan Zinc is already in the base metal (sector). Whatever lithium asset will come it will be strategic interest, Mishra told PTI in reply to a question on plans of acquiring lithium reserves.
The CEO further said, "As base metals are our (company's) area of interest and lithium being one of them, we look forward to exploring the opportunities as such metals are going to be the future which will drive the new world."
Therefore, HZL is open to participate in auctions for the lithium reserves, he added.
Lithium is a non-ferrous metal and is one of the key components of batteries used in electric vehicles (EVs), a segment which is on growth path in India.
On the company's plan about offer for sale (OFS), Mishra said, "it is in the hands of the government of India and I'm sure they're looking for suitable opportunity in the market..."