The Ministry of Mines signed an MoU with the International Energy Agency (IEA) to enhance collaboration in the critical minerals sector.
Significance of the MoU
- Strengthening India’s Critical Mineral Strategies:
- Provides access to reliable data, analysis, and policy recommendations for effective resource management.
- Alignment with Global Standards:
- Helps India streamline policies, regulations, and investment strategies to match global best practices.
- Capacity Building and Knowledge Sharing:
- Facilitates exchange of technical expertise, training, and joint research with IEA member countries.
- Enhances India’s capabilities in mineral extraction, processing, and recycling techniques.
Critical Minerals:
- Essential raw materials critical for energy technologies (e.g., batteries, solar panels, EVs), advanced manufacturing, and national security.
- Includes minerals like lithium, cobalt, rare earth elements (REEs), and nickel.
Importance for India:
- Energy Transition: Crucial for India’s shift to renewable energy and electric mobility.
- Import Reliance: India lacks adequate domestic reserves and depends on imports from geopolitically sensitive regions.
Critical Minerals Identified by India:
- 30 minerals identified based on disruption potential, substitutability, cross-sector usage, import reliance, and recycling rates.
- Examples: Lithium, Cobalt, Nickel, Rare Earth Elements (REEs), Tungsten, Titanium, Graphite, Cadmium, etc.
Geographical Distribution in India:
- States/UTs with critical mineral reserves include Bihar, Gujarat, Jharkhand, Odisha, Tamil Nadu, Uttar Pradesh, Chhattisgarh, and Jammu & Kashmir.
The MoU with the IEA marks a strategic step in securing critical minerals for India’s energy transition and economic growth. By aligning with global standards and enhancing technical expertise, India can reduce import reliance and strengthen its position in the global green technology supply chain.
