Mineral Sector

Recovery of critical minerals from processing waste requires a multipronged strategy with policy reforms in India, according to a report. Technological development, capacity building and supply chain integration are also needed for the recovery of these minerals from waste, according to a recent Ficci-Deloitte report. Critical minerals are important for the growth of clean energy technologies, electric vehicles and battery manufacturing. The demand for these minerals is increasing as the world transitions to clean energy. Critical minerals are also used in defence, such as in the production of aircraft, missiles, tanks, and corvettes, according to the report. The country, it said, is steadily gearing its critical mineral resource security. However, challenges, such as low exploration levels, long gestation periods for mine operations, and bottlenecks in processing, highlight the need to look for alternative sources of critical minerals, with mine processing waste offering a promisi

Putin told state TV on Monday that Russia was open to joint projects with American partners - including government and the private sector - under a future Russia-US economic deal

The government on Friday sought participation and support of the industry for the success of the National Critical Mineral Mission and said that it is aiming to put a maximum number of critical blocks on auction by 2031. The minister also stressed on the need for the country to become self-reliant in critical minerals and said that it can be possible when both government and industry works as a team. "I request you all to participate in his mission so that it becomes successful," Satish Chandra Dubey, Minister of State for Coal and Mines said while addressing Ficci's critical minerals mission. He further said that as many as 24 critical minerals blocks have already been auctioned and the government is aiming to put a maximum number of such blocks on sale by 2031. "Our aim is to put the maximum number of critical blocks on auction by 2031 and it is not possible without your support," he stressed. The Union Cabinet, headed by Prime Minister Narendra Modi, last month approved the Rs

US Treasury Secretary Scott Bessent presented the proposal to Zelenskiy in a draft contract, which was brought to their meeting on Wednesday

CAPE TOWN (Reuters) - Vedanta Resources VDAN.NS> is trying to raise around $1 billion in debt financing to fund development of its Konkola Copper Mines (KCM) in Zambia, Chris Griffith, head of the company's base metals unit, said.

Consulting firm Deloitte India has welcomed the government's approval to Rs 16,300-crore National Critical Mineral Mission stating that it is well-timed and signals a commitment to strengthen energy security in the face of global uncertainties. "The Cabinet's approval of the National Critical Mineral Mission, accompanied by a significant financial outlay, is a major step forward for India's energy security. Given the country's vulnerability to geopolitical shifts surrounding critical minerals, this mission addresses a key area of concern. It is a well-timed and highly welcome move by the government," Rakesh Surana, Partner, Deloitte India, said in a statement. What stands out most about this initiative is its holistic approach that covers the entire value chain. The focus is not just on the exploration of critical minerals, but also on crucial elements such as processing and recovery from end-of-life products, he said. "This multi-faceted approach will likely drive significant ...

Financial incentives, fast-track approval, mineral pacts with foreign nations planned

The government on Wednesday approved a Rs 16,300-crore National Critical Minerals Mission (NCMM) to promote exploration of critical minerals within the country and at offshore locations. The approval was given by the Union Cabinet chaired by Prime Minister Narendra Modi. Briefing the media after the Cabinet meeting, minister for information and broadcasting Ashwini Vaishnaw said that the mission aims to reduce the dependence on import of critical minerals and ensure self-reliance. The NCMM will encompass all stages of the value chain, including mineral exploration, mining, beneficiation, processing, and recovery from end-of-life products. The mission will intensify the exploration of critical minerals within the country and in its offshore areas. It aims to create a fast-track regulatory approval process for critical mineral mining projects. Additionally, the mission will offer financial incentives for critical mineral exploration and promote the recovery of these resources from .

India identified 30 minerals, including lithium, as critical for its energy transition efforts and to meet the growing demand from industries

Union minister G Kishan Reddy on Monday said the Centre will soon launch the National Critical Mineral Mission (CMM) to enhance domestic production, reduce import dependence, and encourage offshore mining auctions, while urging states to cooperate for sustained mining activities. Reddy made the remark after inaugurating the 3rd National Mining Ministers' Conference in Konark, in the presence of Odisha Chief Minister Mohan Charan Majhi, Bihar's deputy CM Vijay Kumar Sinha, Telangana deputy CM Bhatti Vikramarka Mallu, and other dignitaries and industry leaders. "The mission will soon get Cabinet approval. Union finance minister had announced about it in her budget speech. Import duty on critical mineral has also been made zero," Reddy said. Lithium, cobalt, copper, nickel and rare earth elements are known as critical minerals which are essential for manufacturing defence equipment and key technologies. Stating that India has already made a place in the global platform on critical ...

Coal India Limited (CIL) and IREL (India) Limited on Monday signed a non-binding Memorandum of Understanding (MoU) to cooperate and collaborate on the development of critical minerals. The MoU aims to promote the development of mutually agreed assets of critical minerals, including mineral sands and rare earth elements (REE), Coal India informed bourses The two companies will work together to acquire assets, source raw materials domestically or internationally, and develop mining, extraction, and refining capabilities, Coal India officials said. This partnership is part of CIL's efforts to reduce India's import dependence on critical minerals including lithium and cobalt. CIL Chairman P M Prasad in the past emphasised the importance of acquiring these mineral assets in India and abroad to support the country's clean energy goals. The government in the Union Budget 2024-25 had announced Critical Mineral Mission that aims to expand domestic production, recycling, and incentivise the

The ministry has also notified 28 private exploration agencies to undertake exploration without requiring prospecting licences

According to the Ministry of Mines, no bids were received for four blocks, while the remaining seven blocks attracted fewer than three technically qualified bidders

Some Congo mines are run by armed groups involved in massacres of civilians, mass rapes and other crimes. Apple has said none of smelters or refiners of 3T minerals had financed those groups

The talks come at a time when multiple domestic steelmakers, such as JSW Steel and SAIL, are also in talks with the landlocked nation to import coking coal

The government on Wednesday said that 24 critical and strategic mineral blocks have been sold in four rounds of auction. "Out of 48 blocks put to e-auction, 24 have been successfully auctioned, including four mining lease (ML) and 20 composite license (CL) blocks," the mines ministry said in a statement. The centre has so far completed four tranches of e-auction, it said, adding that a total of 10 blocks have been auctioned in the fourth round. According to the statement, the mines ministry has completed the e-auction of another two mineral blocks under tranche IV. "This is in addition to the announcement on November 7, 2024, regarding the preferred bidders for eight mineral blocks under tranche IV of e-auction by central government, bringing the total number of successful blocks in Tranche IV to ten," it said. In the latest auction, Satguru Mining Pvt Ltd won the bid for Ponchi graphite block in Jharkhand, while Assam Mineral Development Corp Ltd emerged as the preferred bidder f

The government will on Thursday launch the first round of sale of mineral blocks in offshore areas with 13 mines across the Arabian Sea and Andaman Sea set to be auctioned. These mineral blocks consist of a mix of construction sand, lime mud, and polymetallic nodules. These minerals are critical for infrastructure development, high-tech manufacturing and green energy transition. "The Ministry of Mines will be launching the first-ever tranche of auction of mineral blocks in offshore areas of India on 28th November 2024," an official statement said. The move assumes significance as it will lead to foray into the exploration and development of undersea mineral resources within its offshore area. Offshore areas include territorial waters, continental shelf, exclusive economic zone, and other maritime zones of the country. With the global shift towards technologies reliant on high-demand minerals, such as cobalt, nickel, rare earth elements, and polymetallic nodules, India must develop

With India having limited resources of lithium, cobalt, nickel and other critical minerals, domestic players need to secure long-term supply from countries having sizable reserves and focus on battery reuse and recycling, ratings agency CareEdge said on Wednesday. This would provide environmental benefits and reduce price and supply risk associated with imports of these minerals, CareEdge said. India has set an ambitious target to meet 50 per cent of its primary energy requirement from renewable energy sources by 2030 (as a percentage of annual sales). To achieve this, India needs significant penetration of electric vehicles (EVs) as well as grid level energy storage capacity, the ratings agency said, and this envisaged transition would significantly increase India's need for advanced chemistry batteries, particularly lithium-ion (Li-ion) batteries, due to the limitations of traditional batteries like lead-acid and nickel-metal hydride batteries. "The demand for lithium-ion battery

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

The board also revealed the company had been paying rent for properties which belonged to the billionaire along with rent-related benefits to the founder's daughter