Business News | Mines Ministry in Process to Auction 20 Critical Mineral Blocks: Secretary
Get latest articles and stories on Business at LatestLY. India in June this year identified 30 critical minerals taking into account its requirements for sectors like defence, agriculture, energy, pharmaceutical, and telecom and in line with its Atmanirbar (self-reliance) roadmap.
New Delhi [India], November 15 (ANI): The Union Ministry of Mines is in the process of auctioning 20 blocks of critical minerals including lithium and graphite in the next two weeks, said Secretary VL Kantha Rao.
Interacting with the media persons after inaugurating the mining pavilion at the India International Trade Fair 2023 (IITF), on Tuesday, the secretary said that for mining and processing of critical minerals indigenous technology will be explored.
India in June this year identified 30 critical minerals taking into account its requirements for sectors like defence, agriculture, energy, pharmaceutical, and telecom and in line with its Atmanirbar (self-reliance) roadmap.
Those critical minerals were Antimony, Beryllium, Bismuth, Cobalt, Copper, Gallium, Germanium, Graphite, Hafnium, Indium, Lithium, Molybdenum, Niobium, Nickel, PGE, Phosphorous, Potash, REE, Rhenium, Silicon, Strontium, Tantalum, Tellurium, Tin, Titanium, Tungsten, Vanadium, Zirconium, Selenium, and Cadmium.
Critical minerals are those minerals that are essential for economic development and national security.
"Minerals are an integral part of our daily life and minerals serve as raw material for many industries but are also crucial and vital to energy transition to a low carbon-emission economy, and renewable energy technologies that will be required to meet the 'Net Zero' commitment as declared by our Prime Minister," Union Minister of Coal, Mines Pralhad Joshi said in his virtual message yesterday.
In recent years, the government has introduced important reforms to open the mining sector for private participation and in particular mineral exploration. Today, there are many accredited private exploration agencies empanelled to step up the pace of exploration in the country. (ANI)
(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)