[SMM News: Indian Aluminum Giant Nalco Targets Critical Minerals Including Rare Earths] India's National Aluminium Company (Nalco) recently announced that it is actively evaluating the feasibility of entering the rare earth elements mining sector to expand its business footprint. The company stated that its bidding consultant has initiated due diligence on the auction of domestic mineral blocks containing rare earths, magnesium, and chromium, marking a diversification strategy extending from its bauxite and alumina operations into high-value critical minerals.
Rare earth elements are core raw materials for the electronics, national defense, renewable energy, and EV industry chains. As a country highly dependent on imports for rare earth resources, India views boosting domestic capacity as a crucial step in achieving its "Self-Reliant India" strategy. Currently, Nalco's bidding consultant is comprehensively assessing the commercial potential, acquisition premiums, and bidding strategies for target mines to determine whether to participate in subsequent auctions.
Analysis suggests that if Nalco successfully ventures into rare earth mining, it will significantly enhance the autonomy of India's critical mineral supply chain, reduce external dependence, and simultaneously support the development of strategic industries.
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