Page 9 - Minerals

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

India's critical mineral list a step towards supply-chain security: Experts

Critical minerals refer to mineral resources, primary and processed, which are essential inputs in the production process and whose supplies could be disrupted

Heavy metal: Centre releases first ever list of 30 key critical minerals

Lithium, cobalt, and silicon among 30 minerals identified

Ministry of Mines set to release list of critical minerals for India

The list will serve as a guiding framework for policy formulation, strategic planning, and investment decisions in the mining sector

India set to get its first list of critical minerals on Wednesday

The critical minerals list is likely to have more than 40 minerals

Centre to come up with list of critical minerals, draft policy this week

The critical minerals list is likely to have more than 40 minerals

Epsilon first Indian firm to invest $650 mn on EV battery parts plant in US

Move follows India-US minerals pact; firm to set up 50,000 mtpa plant with revenue generating potential of $500 million at full capacity utilisation

Minerals Security Partnership: What is it, and why is it important?

The Minerals Security Partnership (MSP) was announced in June 2022 by the US to strengthen critical mineral supply chains; India is not a part of the 11-member group

One-third of annual exploration projects are for critical minerals: GSI

Amid the buzz of 'green economy', the Geological Survey of India (GSI) is intensifying its exploration exercises for critical minerals, like lithium, nickel, cobalt and rare earth elements, with "one-third" of such projects being dedicated to the search of these resources, a top official said on Sunday. These critical minerals are key to clean energy technologies. The national survey organisation, which now has a working collaboration with Geoscience Australia for mineral exploration, is also in talks for tie-ups with the authorities in Russia and Brazil, GSI Deputy Director General (Policy Support System - Planning and Monitoring) Asit Saha said. "We have been taking up more than 100 exploration projects every year for critical minerals since 2020-21. The same trend continues this year (2023-24) also, as it is our thrust area. Earlier, the number of such projects was to the tune of 60-70 but now we have drastically increased it. "Out of a total of around 350 mineral exploration ..

Indian Rare-Earths eyes 400% expansion for clean energy transition

State-owned IREL (India) Ltd. aims to mine 50 million tonnes a year of rare-earths bearing ore by end-2032, up from 10 million tonnes now