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India Urges Private Firms to Acquire Critical Minerals Overseas
India needs special minerals for electronics, clean energy, defence and space technology.
The government wants private companies to help find and buy these minerals in other countries.
Companies may work on land acquisition, mining and semi-processing overseas before sending materials to India.
India has already acquired five lithium blocks in Argentina.
It is also talking with Australia and Chile about mineral supplies.
The government says both governments and private companies are working on this goal.
India is offering Rs 36,000 crore in incentives through its National Critical Mineral Mission.
It also wants to recover minerals from electronic waste and other recycled materials.
Four plants are being built in Indian states to process imported, domestic and recycled minerals.
Union Minister G Kishan Reddy urged private companies to acquire overseas critical-mineral assets and bring raw materials to India.
India has acquired five lithium blocks in Argentina, while discussions continue with Australia and Chile.
The National Critical Mineral Mission includes incentives worth Rs 36,000 crore to support the sector.
The government estimates recycled materials could eventually meet 25–30% of India’s critical-mineral needs.
Four processing plants are being established in Maharashtra, Gujarat, Andhra Pradesh and Odisha.
- Who
- Union Coal Minister G Kishan Reddy, the Indian government and private companies.
- What
- The government is encouraging private-sector overseas acquisitions of critical-mineral assets and expanding domestic processing and recycling.
- Where
- The policy concerns overseas mineral-rich countries, including Argentina, Australia and Chile, as well as processing plants in Maharashtra, Gujarat, Andhra Pradesh and Odisha.
- When
- The announcement was made on Friday at the CII Global Summit on Advanced Minerals.
- Why
- To strengthen mineral supply security, support strategic industries and reduce India’s dependence on imports.
Key facts
- Minister
- G Kishan Reddy, Union Coal Minister
- Lithium assets
- Five lithium blocks acquired in Argentina, with exploration underway
- Mission incentives
- Rs 36,000 crore announced under the National Critical Mineral Mission
- Recycling target
- Recycled materials could eventually supply 25–30% of India’s critical-mineral requirements
- Recycling initiative
- 58 entities shortlisted from 125 applicants in its first phase
- Recycling outlay
- Rs 1,500 crore
- Processing plants
- Four plants are being established in Maharashtra, Gujarat, Andhra Pradesh and Odisha
Quotes
G Kishan Reddy
India’s Union Coal Minister
“We are giving encouragement to the private sector. Through Indian embassies and foreign embassies in India, companies can go to mineral-rich countries for land acquisition, mining and semi-processing and bring raw materials back to India.”
thehansindia.com
“Government-to-government and private-to-private efforts are both progressing simultaneously.”
thehansindia.com
Sources
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