Shree Cement makes move into mining sector

Shree Cement is reportedly planning to bid for lithium mining rights in Jammu and Kashmir, as part of the company’s venture into the mining sector. According to Reuters, an estimated 5.8Mt of deposits were found in February this year. The cement producer is also believed to be looking at blocks in the eastern state of Chhattisgarh.

An Australian-based mining company is advising Shree on the bid. If successful in acquiring the lithium block, Shree Cement plans to set up a US$600-700m refinery.