Graphite is the first mineral Coal India Limited (CIL) will diversify its operations beyond coal, following an order from the Ministry of Mines granting the company a composite license for prospecting and mining.

This license pertains to the Khattali Chhoti Graphite Block in Alirajpur, Madhya Pradesh.

“This is the first mineral other than coal for us,” Debasish Nanda, Director of Business Development at Coal India, told PTI.

CIL is required to pay a mining premium of 150.05 per cent of the value of minerals dispatched to the state government.

Coal India said the timeline is one year for the grant of the composite license and three years for the execution of the mining lease deed, the miner informed bourses.

Currently, the project is in a very preliminary phase, necessitating further exploration