BEWARE OF FAKE INSTITUTES WITH SIMILAR NAMES. blank    blank
banner

India's Critical Minerals Strategy: Challenges and Progress.



  Oct 10, 2023

Critical Minerals & India’s Progressive Approach



Introduction to Critical Minerals:

Central to modern life including LED lights, electric cars, batteries, and more.

Recognized globally for strategic importance with roots in the US’ 1939 Act.

India’s Stance:

Mining is pivotal to India’s economy.

June 2023: India joined the Minerals Security Partnership with major global economies.

Comprehensive list of 30 critical minerals released.

August 2023: Amendment to the Mines and Minerals Act, enhancing private sector involvement.

2023 Amendment Highlights:

Simplified processes for licenses and concessions.

Critical minerals are essential for economic growth and national security.

Importance: Energy transition, tech advancement, and net-zero commitments.

Private sector and FDI involvement, especially for atomic minerals.

Auction Power & Regulations:

Union government has exclusive auctioning rights.

Exploration licence holders must report findings, with auctions to be conducted for valuable discoveries.

Potential Hurdles:

Delays due to clearance issues, as seen with the Ghorabhurhani–Sagasahi iron ore mine.

Direct selling by private explorers prohibited, impacting their motivation.

Global Demand and Challenges:

450% surge in demand for critical minerals expected by 2050.

China’s dominance in the market is a challenge for India.

Environmental and social risks like habitat disruption and human rights violations are associated with mineral extraction.

Dive into the discussion! Discover more on SRIRAM’s social media platforms.


Share:
 

Get a call back

Fill the below form to get free counselling for UPSC Civil Services exam preparation

 
UPSC DAILY CURRENT AFFAIRS

 
INDIA’S FERTILITY RATE DYNAMICS AND IMPACT
 
East China Sea Tensions:Senkaku Islands
 
NABARD's Agri-SURE Fund: Simplifier
 
VARKALA CLIFF: A NATIONAL GEOLOGICAL HERITAGE SITE
 
India's SDG Progress: NITI Aayog Report
 
Empowering Tier 2 & Tier 3 Cities: Aspirational ULB Initiative
 
INDIA AND RUSSIA TO TRADE IN NATIONAL CURRENCIES
 
India:The Skills Gap Challenge
 
BIMSTEC: India's Strategic Focus and "Act East" Policy
 
UNIFIED PAYMENTS INTERFACE (UPI)​​​​​​​​​​​​​​​​
 
CADRE SYSTEM IN INDIAN CIVIL SERVICE
 
SALKHAN FOSSILS PARK: A WINDOW INTO EARLY LIFE ON EARTH
 
MULE ACCOUNTS AND RBI’S MEASURES
 
INDIA: COUNTER-PIRACY IN RED SEA
 
Indian Navy anti-piracy operation