India Approves INR28.14 Billion Spending for Lithium, Nickel Processing

MT Newswires Live11-05

India has approved spending 28.14 billion rupees to boost domestic lithium and nickel processing and reduce reliance on imports, according to an official government press release on Wednesday.

The government said it plans to establish four mineral processing plants, two each for nickel and lithium, to cater to the needs of critical industries including electric mobility, battery energy storage, electronics, defense, and specialty steel. It will provide subsidies of up to 5 billion rupees for each lithium plant and 9 billion rupees for the nickel plant.

The lithium plants will have a minimum capacity of 30 kilotonnes each, and the nickel plants will have 50 kilotonnes, the Indian government said.

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