State-run Coal India Ltd, the world’s top coal producer, has set up a unit in Singapore to buy and manage critical-mineral assets overseas, marking its biggest step toward diversifying beyond fossil fuels and helping the country secure raw materials vital to the green transition.
The coal miner said, in a regulatory filing, that the wholly-owned subsidiary named ‘CIL Global Pte Ltd’ will explore and develop overseas opportunities in critical minerals asset acquisition, enable an efficient management of overseas investments, and provide structural flexibility for future acquisitions.
Amid its diversification process, the company has been looking at critical mineral assets across the globe, including mineral-rich South American countries, as well as other areas such as renewable energy, coal gasification, and power generation.
In the annual report for FY26, its chairman and managing director, B. Sairam, wrote: "Coal India enters this next phase from a position of strength. We have a strong resource base, an expanding project pipeline, healthy financials and a clear strategy for future growth. Alongside strengthening our core business, we are creating new opportunities across coal gasification, critical minerals, renewable energy, battery storage and power generation. These initiatives are gradually broadening the company's growth platform while remaining aligned with national priorities."
In 2025, the company signed a non-binding Memorandum of Understanding with Hindustan Copper Ltd to collaborate on copper and critical mineral value chains. It also entered into a partnership with Chhattisgarh Mineral Development Corporation for critical mineral exploration.
The development comes at a time when the government is focusing on securing critical minerals and reducing import dependency.
The bill aims to speed up the exploration and production of critical minerals, including lithium, nickel, and cobalt. In the past few years, the government has made efforts to boost local production of these critical minerals to reduce dependence on China. These minerals are critical raw materials for renewable energy components, defence equipment, and telecommunication equipment, among others.
In these lines, Parliament passed a bill during the recently concluded Monsoon session to bar states from imposing taxes or other levies on mining and minerals, aiming to ease the financial burden on the sector and improve the commercial viability of mining operations.
Through the Mines and Minerals (Development and Regulation) Amendment Bill, 2026, the government also aims to take control of the regulation of mineral-bearing lands, as prescribed in the Mines and Minerals (Development and Regulation) Act of 1957.
Critical minerals, including lithium, nickel, and cobalt, are key raw materials for renewable energy components, defence equipment, and telecommunications equipment.
On Monday, Coal India shares on BSE closed at ₹406.50, 0.4% higher than the previous close.
Rituraj Baruah is a special correspondent covering energy, housing, urban affairs, heavy industries and small businesses at Mint. He has reported on diverse sectors over the last eight years including, commodities and stocks market, insolvency and real estate; with previous stints at Cogencis Information Services, Indo-Asian News Service (IANS) and Inc42.
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