Page 6 - Minerals

Risky bet: Mining fatalities decline, but safety remains elusive

In recent years, the number of fatalities has come down as the government has cracked down on illegal rat hole mining

Govt cancels auction of 11 critical mineral blocks due to poor response

The government has cancelled the auction of 11 critical mineral blocks in the fourth round due to poor response. While no bids were received for four blocks, the remaining seven mines got less than three technically qualified bidders, according to the annulment notice. The four blocks which include tungsten and glauconite, are located in the states of Chhattisgarh and Arunachal Pradesh. "Since there were nil bids received....the auction process for four mineral blocks stands annulled," the notice said. Critical minerals, such as cobalt, copper, lithium, nickel and rare earths, play crucial roles in the production of clean energy technologies, ranging from wind turbines to electric vehicles. "Since there were less than three technically qualified bidders...the auction process of these seven mineral blocks stands annulled," the notice said. The government had earlier cancelled the auction of three critical mineral blocks in the third round, 14 blocks in the second round, and 14 in

Govt to kick off critical minerals mission to bolster energy transition

India is set to kick off a national mission for the critical and strategic minerals sector as the country looks to propel its journey towards green energy transition and boost electric vehicle manufacturing capacity. While much of 2024 was spent in doing ground work, the next is poised to be a landmark year for India's mineral and mining sector. As the world races to secure vital minerals for renewable energy and emerging technologies, India gears up to take the centre stage with the launch of its much-touted Critical Mineral Mission in 2025. This mission, a bold and collaborative effort, will unite ministries, industries, R&D institutions, and global think tanks in a shared vision to secure a sustainable supply of the minerals that power tomorrow's world. With a series of high-profile roadshows abroad along with plans to acquire critical mineral assets in Australia, India is set to woo international investors and make its mark on the global mining map. Mines Secretary V L Kantha .

Vedanta, Oil India, Hindustan Zinc emerge top bidders in mineral auctions

The latest awards follow a second-round auction held after the initial round failed to attract sufficient interest, as the government mandates at least three technically qualified bids per block

Govt to remove logistic cost to calculate metallurgical grade bauxite ASP

Revised conversion factor would apply to new mining leases granted following the notification

India remains highly dependent on imports of critical minerals, says report

India remains highly dependent on imports for minerals critical to accelerating its energy transition, with a full reliance on shipping in lithium, cobalt and nickel, according to a report released Monday. The report, published by the Institute for Energy Economics and Financial Analysis (IEEFA), said that India's demand for critical minerals is expected to more than double by 2030, while domestic mining operations may take over a decade to start producing. It stresses that India needs a carefully crafted import strategy to mitigate potential trade risks while balancing international relationships to secure these essential minerals. IEEFA's report examines five critical minerals (and their compounds) cobalt, copper, graphite, lithium and nickel from the perspectives of import dependency, trade dynamics, domestic availability, and global price fluctuations. The findings show that India remains largely import-dependent for these minerals and their compounds, with 100 per cent impor

India, America to discuss pact to boost collaboration in critical minerals

India and the US are negotiating a pact to enhance collaboration in essential critical minerals, and the issue will figure during the visit of Commerce and Industry Minister Piyush Goyal to Washington this week. At the invitation of the US Secretary of Commerce Gina Raimondo, Goyal will undertake a visit from September 30-October 3. The commerce ministry said, in a statement on Sunday, that Goyal and Raimondo will also discuss steps to expand and diversify critical minerals supply chains between India and the US. "The two sides are negotiating a MoU which intends to enhance bilateral collaboration to increase and diversify essential critical mineral supply chains and leverage their complementary strengths," it said. Critical minerals, such as cobalt, copper, lithium, nickel and rare earths, play a crucial role in the production of clean energy technologies, from wind turbines to electric cars. They are particularly in demand for the production of batteries for electric cars. Goyal

India joins US-led security finance network to secure critical minerals

The Minerals Security Finance Network seeks to promote collaboration between the Indo-Pacific region and Europe, ensuring a secure, sustainable, and diversified supply of critical minerals

US-China research has given Beijing's military tech boost, says House GOP

Partnerships between the US and China at universities over the past decade have allowed hundreds of millions of dollars in federal funding to aid Beijing in developing critical technology that could be used for military purposes, congressional Republicans asserted in a new report. The report said US tax dollars have contributed to China's technological advancement and military modernization when American researchers worked with their Chinese peers in areas such as hypersonic weapons, artificial intelligence, nuclear technology and semiconductor technology. The report, released Monday by Republicans on the House Select Committee on the Chinese Communist Party and the House Education and Workforce Committee, raised concerns over the national security risks of collaborations between researchers from the two countries that were once celebrated. It urged stronger safeguards and more robust enforcement. The committees conducted a yearlong investigation as lawmakers and their policy advise

IPEF identifies semiconductors, minerals, batteries as critical sectors

India attends IPEF Supply Chain Council, Crisis Response Network in Washington

India's zinc consumption to rise to over 2 mn tonnes in next 10 years

India's zinc consumption is estimated to increase to over 2 million tonnes in the next 10 years from the current 1.1 million tonnes, International Zinc Association (IZA) said on Thursday. Speaking on the sidelines of Zinc College, 2024 event here, Andrew Green, Executive Director of IZA, said: "The zinc consumption and demand in India is 1.1 million tonnes (MT), which is higher than the current production in India. ...this is likely to go over 2 MT in the next 10 years. That's the forecast." Zinc College is organised every two years by the International Zinc Association in partnership with a member company. Hindustan Zinc Ltd is the partner of Zinc College 2024. He further said that the global zinc market is around 13.5 million tonnes per annum in terms of primary production. And one of the big differences is that if one looks at the per capita use of zinc, on the global average it's about four to five times higher than what's happening in India. So there are a number of areas wher

SC to set up bench to hear pleas of states on recovery of royalty, tax dues

The Supreme Court on Wednesday said it will set up a bench to hear subsequent pleas of mineral-rich states like Jharkhand seeking to recover royalty and tax dues on mineral rights and mineral-bearing lands worth thousands of crore of rupees from the Centre and mining firms. On July 25, a nine-judge bench headed by Chief Justice D Y Chandrachud, in a majority 8:1 verdict, had ruled that the legislative power to tax mineral rights vests in states and not Parliament. In a subsequent order on August 14, the top court clarified that the judgement will not have prospective effect and permitted mineral-rich states recover from the Centre and mining firms the royalty and tax dues on mineral rights and mineral-bearing lands worth thousands of crore of rupees since April 1, 2005 over a period of 12 years. On Wednesday, senior advocate Rakesh Dwivedi, appearing for Jharkhand, urged the bench comprising the CJI and Justices JB Pardiwala and Manoj Misra to allocate the pleas, relating to recover

Indians across all age groups deficient in iron, calcium, folate: Lancet

People across all age groups in India, both men and women, are consuming inadequate amounts of micronutrients critical for health, including iron, calcium and folate, as estimated in a study published in The Lancet Global Health journal. The study is the first to provide estimates of insufficient consumption of 15 micronutrients across 185 countries, taken through diets without the use of supplements, according to an international team, including researchers from Harvard University, US. The findings suggested that around the world, almost 70 per cent, or over five billion, people do not consume enough iodine, vitamin E, and calcium. The researchers also found that within a country and an age group, more women were consuming inadequate amounts of iodine, vitamin B12 and iron, compared to men, whereas more men were consuming inadequate amounts of magnesium, vitamin B6, zinc and vitamin C, compared to women. In India, while more women consumed insufficient amounts of iodine, compared

Prez Murmu stresses upon increasing focus on minerals for green transition

President Droupadi Murmu on Tuesday stressed upon the need to increase the focus on critical minerals for green transition. Critical minerals, including lithium, play a crucial role in the production of clean energy technologies, from wind turbines to electric cars. They are particularly in demand for the production of batteries for electric cars. Speaking during National Geoscience Awards function, Murmu said the Critical Minerals Mission can provide essential raw material for green transition. For sustainable development, she said, India is committed to net-zero emission. Murmu also said that for making India a developed nation by 2047, there is a need for self reliance on mineral production and mineral exploration. Union Coal and Mines Minister G Kishan Reddy said the government is focusing on making India self reliant in critical and strategic minerals. He further said that 14 critical mineral blocks have been put on sale. The government, he said, is giving priority to offsh

Centre to offer financial support to boost critical minerals sector growth

The focus of this initiative is to help find ways to develop extraction technology and better methods of beneficiation

Centre unveils rules to boost offshore mineral exploration & production

The Rules come ahead of the Centre's scheduled launch of the inaugural round of offshore mineral auctions

Can states tax mining activities retrospectively? SC reserves verdict

Meanwhile, Advocate General of Odisha Pritambar Acharya appeared in a dilemma when the court asked him whether the judgment should apply retrospectively or not

Refund of mineral royalties could cost Rs 70k-80k crore: Centre to SC

On July 25, a nine-judge constitution bench ruled that the power to tax mineral rights lies with the states and that royalty paid on minerals is not a tax.

Royalty not tax: SC grants states power to levy taxes on mineral rights

The Supreme Court has affirmed that states have the authority to levy taxes on mineral rights and would not be limited by the Mines and Minerals (Development and Regulation) Act 1957 (MMDR Act)

ISA members negotiate deep sea mining code in Jamaica as opposition mounts

Supporters say deep sea mining will help boost supplies of raw materials like cobalt and nickel, which are needed for the global energy transition