New Delhi [India], June 11 (ANI): State-run NLC India Ltd (NLCIL) has signed a memorandum of understanding (MoU) with CSIR-Central Electrochemical Research Institute (CSIR-CECRI), Karaikudi, to jointly develop technologies for the extraction and recovery of rare earth elements and other critical minerals from mining waste and overburden materials, the company said on Thursday.

The collaboration comes as India steps up efforts under the National Critical Mineral Mission to secure supplies of strategic minerals that are essential for clean energy technologies, electronics and advanced manufacturing.

According to the company's press release, the MoU was signed on June 10 at Neyveli to foster cooperation in 'critical and strategic minerals beneficiation and extraction technologies.'

Under the agreement, the two organisations will conduct detailed studies on overburden materials and tailings generated from NLC India's Neyveli mines to assess the potential for extraction and recovery of rare earth elements (REEs) and other trace elements. The partnership will also explore similar opportunities across NLCIL's other mining and exploration projects.

NLC India said it has been actively pursuing opportunities in the exploration and development of critical and strategic minerals from both primary and secondary sources. The company has also undertaken studies on the occurrence and recovery potential of rare earth elements and other trace elements from secondary source materials.

Speaking on the occasion, NLC India Chairman and Managing Director Prasanna Kumar Motupalli said the partnership would strengthen research efforts aimed at extracting rare earth elements and other critical minerals from mining waste and related materials.

'The collaboration between NLCIL and CSIR-CECRI would strengthen research efforts towards the beneficiation and extraction of Rare Earth Elements (REEs) and other critical minerals associated with overburden, tailings, and other secondary resources,' Motupalli said.

He added that the partnership would help create sustainable technologies for resource recovery and support the country's broader critical mineral strategy.

'The partnership would facilitate the development of innovative and sustainable technologies for unlocking the value of these resources, contribute to the objectives of the National Critical Mineral Mission,' he said.

This collaboration is expected to support India's efforts to reduce dependence on imports of critical minerals and strengthen domestic capabilities in resource recovery and processing.

The development comes days after the Government of India announced an Offer for Sale (OFS) in NLC India Ltd as part of its disinvestment programme. On June 8, the Department of Investment and Public Asset Management (DIPAM) said the OFS would comprise a base offer of 2 per cent equity and an additional 1 per cent Green Shoe Option in case of oversubscription. The floor price was fixed at Rs 303 per share.

Under the offer structure, the government proposed to sell around 2.78 crore shares initially, representing 2 per cent of the company's paid-up equity capital, with the option to divest an additional 1.39 crore shares, taking the total stake sale to 3 per cent. (ANI)