Mines ministry, IEA sign pact for cooperation in critical mineral sector

The mines ministry on Wednesday entered into a pact with the International Energy Agency (IEA) for cooperation in the area of critical minerals.

The Cabinet had earlier this month approved the proposal of signing the memorandum of understanding (MoU) between IEA and the mines ministry.

The present association would provide India with access to reliable data, analysis, and policy recommendations in the critical mineral sector.

The IEA is an international organisation within the framework of the Organisation for Economic Co-operation and Development (OECD).

"This collaboration would enable India to streamline its policies, regulations, and investment strategies in the critical mineral sector, aligning them with global standards and best practices," the mines ministry said in a statement.

The agreement would also promote capacity building and knowledge exchange between India and the IEA member states, it said, adding that the collaboration on data collection, modelling, and analysis would enhance India's technical capabilities and institutional capacity in the critical mineral sector.

Joint research projects, workshops, and training programmes carried out under this agreement would help fostering collaboration and innovation in technology development, extraction techniques, and recycling methods for critical minerals, it said.