Govt backs private miners' overseas push to secure critical minerals

Mines Minister G Kishan Reddy says the government is working with the External Affairs Ministry to support private miners seeking opportunities in mineral-rich countries

Union Mines Minister G Kishan Reddy on Friday said the government was stepping up efforts to support private mining entrepreneurs overseas.

 

Speaking at an event “Advanced Materials, Critical Minerals & Metals”, organised by the Confederation of Indian Industry here, he said his ministry was working with its external-affairs counterpart to “hand-hold” private entrepreneurs and mineral-industry partners seeking opportunities in mineral-rich countries.

 

Reddy added that the government had appointed mineral officers in embassies of all mineral-rich nations to facilitate the country’s push for overseas critical mineral security.

 

A little-known network of Indian and Indian-origin miners had acquired critical mineral assets abroad and were seeking diplomatic support from the government. The miners have acquired exploration rights over critical minerals assets overseas, but await stronger institutional engagement from the government to help unlock their potential.

  

Reddy acknowledged the role of overseas Indian private-sector miners in securing the strategically important critical minerals.

 

“We need capable companies both in India and overseas to work across the entire value chain,” Reddy said, urging Indian industry to become more active in acquiring and developing mineral assets abroad.

 

The minister said India had acquired five lithium blocks in Argentina and was in talks with “several other nations” to finalise additional opportunities.

 

“At the same time, we have entered into partnership with several technology-advanced nations like Japan, Peru, the United Kingdom, and the United States,” he added.

 

Separately, Reddy said 58 companies that had clearance under the government’s incentive scheme for recycling were on track to recover 96 kilotonnes of critical minerals annually.

 

“Under the National Critical Mineral Mission, the Geological Survey of India has taken up 300 projects on critical-mineral exploration this year alone, and four critical mineral-processing parks are being developed with the governments of Gujarat, Maharashtra, Andhra Pradesh and Odisha,” he said.

 

Jitendra Singh, minister of science and technology, who too spoke at the event, highlighted initiatives such as the National Critical Mineral Mission, the opening up of the nuclear sector to private participation, and the ~1 trillion Research, Development and Innovation Fund, and urged early industry engagement, advising that potential industry partners be kept on board right from the first day of any project.

 

Singh outlined five priorities — investment, building domestic capabilities, deeper partnerships, recycling models, and a culture of philanthropy for research — and called for partnerships with the highest integrity.