Page 11 - Minerals

Digging deeper: Govt expects production of critical minerals in 4 years

Govt aims to expedite processes to hasten clearances, auction

Critical mineral imports rise as shift towards green energy catches pace

India eyeing self-reliance amid supply risks from China

Govt advances ASP standardisation for critical and strategic minerals

The government on November 29 initiated the process to auction the first tranche of Rs 45,000 crore worth of 20 blocks of critical and strategic minerals

From Tata Steel to NMDC, big firms weigh bids for critical mineral blocks

Tata Steel, Vedanta, NMDC among mining giants exploring the opportunity

Govt notifies 16 pvt exploration firms for critical, deep-seated minerals

In a bid to encourage private participation in exploration endeavours, the government will provide a financial incentive of up to 25 per cent of the approved cost of exploration

Mineral output rises 11.5% in Sept: Data of Indian Bureau of Mines

Mineral production increased by 11.5 per cent in September as compared to the year-ago period, the government said on Tuesday. The index of mineral production of the mining and quarrying sector for the month of September 2023 at 111.5, is 11.5 per cent higher compared to the level in the month of September 2022, according to the provisional data of the Indian Bureau of Mines (IBM). The cumulative growth for the April-September period over the corresponding period of the previous financial year is 8.7 per cent, the mines ministry said in a statement. The production of important minerals in September includes coal (673 lakh tonnes), lignite (29 lakh tonnes), manganese ore (247,000 tonnes) and limestone (347 lakh tonnes). The minerals that showed positive growth during September this year include manganese ore, gold, iron ore, coal and limestone. Minerals that registered negative growth include petroleum (crude) magnesite and phosphorite.

Centre says 125 new projects taken up for exploration of critical minerals

The government on Wednesday said 125 new projects have been taken up in the current financial year for exploration of critical minerals. There is high demand for critical and strategic minerals, and the demand is usually met by imports. Critical minerals are used in various sectors, including renewable energy, defence, and agriculture. "I am happy to announce that this financial year, we have taken up 125 new projects for exploration of critical minerals," Mines Secretary V L Kantha Rao said at an event here. Further, he said the government is offering an incentive of 25 per cent on discovery of critical minerals by exploration agencies. Recently, 24 minerals were notified as critical and strategic minerals through an amendment in the mining rule. India has committed to achieving 50 per cent of cumulative installed electric power capacity from non-fossil sources by 2030.

Mineral output index increases by 12.3% to 111.9 in August: Centre

India's mineral output increased by 12.3 per cent in the month of August as compared to the same month a year ago, the Centre on Monday said. The index of mineral production of the mining and quarrying sector for the month of August 2023 at 111.9, is 12.3 per cent higher as compared to the level in the month of August 2022, according to provisional data from the Indian Bureau of Mines (IBM). The cumulative growth for the April- August period over the corresponding period of the previous financial year is 8.3 per cent, the mines ministry said in a statement. In the month of August, the country's coal output was 684 lakh tonnes, lignite production was 28 lakh tonnes, bauxite was 14.28 lakh tonnes among others. Minerals like gold, phosphorite, manganese ore and iron ore showed positive growth. "Minerals showing negative growth include bauxite, zinc conc, lignite and lead.

NLC India exploring possibility of mining critical minerals, says CMD

NLC India Ltd is exploring the possibility of mining critical minerals, including lithium, and will participate in the auction of the blocks once they are on offer, company's CMD Prasanna Kumar Motupalli said on Friday. The statement comes at a time when the government is in the process of auctioning critical minerals. In an interview to PTI, Motupalli said,"NLC India has core competence of mining. We have been doing the mining operations since 1967 so we want to use this core competence in critical minerals also." "We are exploring the possibility and viability of the projects and we will certainly desire to enter into that area because that is going to be an area of future. So we are exploring all the possibilities to ensure that mines are taken," he explained. The core business of state-owned NLC India is coal and lignite mining and power generation. "We are exploring all the possibilities and the critical mineral blocks auction is yet to come. So once it will come we will chec

Govt to start critical minerals auction in few weeks, says official

It is also set to notify draft rules for exploration licences for the resources

PM Modi warns of new colonialism model over control of critical minerals

China accounted for 70% of world mine production of rare earths in 2022 and is home to at least 85% of global processing capacity

Lithium to niobium, export ban on 4 critical new energy metals on the table

Lithium, beryllium, niobium, and tantalum are to be banned for export

How Mines and Mineral Bill 2023 clears roadblocks for private investment

With the node, the country is set to see an influx of private capital and technology for improved exploration and production of critical and deep-seated minerals

TMS Ep491: GST on gaming, AI & Indian IT, Fitch's US downgrade and more

Has the online gaming industry got a new lease on life? Is Indian IT embracing AI? How soon can equities recover from Fitch's US downgrade blow? What is Minerals Security Partnership? Answers here

Govt passes Bill to provide fixed production lease for offshore minerals

A Bill to provide a fixed 50-year production lease for offshore minerals was passed by the Rajya Sabha on Thursday amid a walkout by opposition members over the situation in violence-hit Manipur. When the Upper House reassembled for the post-lunch session, Coal and Mines Minister Pralhad Joshi moved the Offshore Areas Mineral (Development and Regulation) Amendment Bill, 2023 for consideration, even as the opposition parties insisted on a discussion on Manipur. The Bill to amend the Offshore Areas Mineral (Development and Regulation) Act, 2002 was passed by the Lok Sabha on Tuesday. The Bill seeks to provide a fixed 50-year production lease for offshore minerals. Under this legislation, the government aims to introduce auctions as the route to award production leases for offshore minerals. It aims at introducing a four-year timeline for the commencement of production and dispatch after the execution of composite licence or production lease, and a timeline of two years (extendable by

Bill to allow private sector to mine lithium, other atomic minerals passed

A bill that seeks to allow the private sector to mine six out of 12 atomic minerals, including lithium, and deep-seated minerals such as gold and silver was passed by Parliament on Wednesday, amid a walkout by opposition members demanding a discussion over the Manipur violence issue. Union Minister for Coal and Mines Pralhad Joshi moved the The Mines and Minerals (Development and Regulation) Amendment Bill, 2023, when Rajya Sabha reassembled in for the post-lunch period. The bill was passed by the Upper House of Parliament by voice vote. It was approved by Lok Sabha last month.

Lok Sabha passes mines and minerals amendment to up private sector role

The Lok Sabha on Friday passed the mines and mineral amendment bill which seeks to open up mining of deep-seated and critical minerals for the private sector. The Mines and Minerals (Development and Regulation) Amendment Bill, 2023, also empowers the central government to exclusively auction mining lease and composite licence for certain critical minerals. Deep-seated minerals include gold, silver, copper, zinc, lead, nickel, cobalt, platinum group of minerals, diamonds, etc, which are difficult and expensive to explore and mine as compared to surfacial or bulk minerals. "Thus share of deep-seated minerals in total mineral production is meagre at present. The country is mostly dependent on imports of these minerals. The proposed exploration licence would facilitate, encourage and incentivize private sector participation in all spheres of mineral exploration for critical and deep-seated minerals," according to the statement of objects and reasons of the Bill. Union Minister for Coal

Madhya Pradesh puts 51 blocks on auctions including 14 of critical minerals

Madhya Pradesh on Friday issued a tender notice for the auction of 51 mineral blocks, including 14 with critical minerals, according to a release. This is the highest number of mineral blocks notified for the auction in a single tranche by any state, the Mines Ministry said in the release. "Madhya Pradesh has announced the largest number ever of mineral blocks for auction. The state has issued Notice Inviting Tender (NIT) for auction of a record number of 51 mineral blocks on July 14th," it said. The 51 blocks comprise 14 minerals including strategic and critical minerals like graphite and vanadium, platinum group of elements (PGE) and also other major minerals such as manganese, bauxite, limestone, iron ore, base metal and gold. "13 blocks are for mining lease and 38 blocks are for composite licence," it said. While mining lease is given for mines with proven reserves, composite licence for mines where some level of exploration is needed. Madhya Pradesh auctioned 29 blocks in ..

Critical minerals supply could pull close to demand by 2030, says IEA

Clean tech minerals market surges to $320 billion in 2022

China's curbs on critical metals a hurdle in India's chip road map

Though the decision comes as a retaliatory move against Western countries, it may impact not just India's ambition of becoming a semiconductor hub