Page 2 - Mineral Sector

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

India, UK explore green technology for recycling critical minerals

This initiative is designed to enhance the sustainability of critical mineral supply chains from exploration, mining, smelting, processing, and recycling

Critical minerals emerged as drivers of modern economy: Coal minister

Coal and mines minister G Kishan Reddy on Thursday said that critical minerals have emerged as drivers of the modern economy and the Centre has ensured the country taps into this global opportunity through the launch of the National Critical Mineral Mission. Union Budget 2024-25 has proposed launching Critical Mineral Mission for domestic production, recycling of critical minerals, and overseas acquisition of critical mineral assets. Its mandate will include technology development, skilled workforce, extended producer responsibility framework, and a suitable financing mechanism. Addressing the national seminar on challenges and opportunities in the mines and minerals sector organised by the Mining, Geological, Metallurgical Institute of India, Reddy said that the government has brought about a paradigm change in the coal and minerals sector, making it transparent and competitive. He elaborated on the government's extensive efforts over the past decade to harness this potential throu

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.

Carborundum Universal results: Consolidated Q1 net profit at Rs 114.84 cr

Abrasives manufacturer Carborundum Universal Ltd (CUMI) has reported a consolidated net profit for April-June 30, 2024 at Rs 114.84 crore, the company said on Tuesday. The city-based company, part of the diversified conglomerate Murugappa Group, had registered a net profit of Rs 117.76 crore during the corresponding quarter of last year. For the year ending March 31, 2024, the consolidated net profit was at Rs 476.18 crore. The consolidated total income during the June-quarter fell to Rs 1,204.56 crore, from Rs 1,234.13 crore registered during the corresponding quarter of last year. For the year ending March 31, 2024, the consolidated total income was at Rs 4,778.84 crore. The company said the consolidated abrasives grew at 6.3 per cent during the April-June 2024 quarter, while the ceramics and electro-minerals segment fell by 6 per cent and 9 per cent respectively. "Profit after tax and non-controlling interest for the quarter was almost flat at Rs 113 crore against Q1 of last y

Vedanta Nico inks pact for supplying nickel to US-based AEsir Technologies

Vedanta Nico, a subsidiary of Vedanta Ltd, on Monday said it has entered into a pact with US-based AEsir Technologies for the supply of nickel, a critical component for next-generation batteries. Nickel plays an important role in EV battery technology, particularly in the cathode, where it enhances energy density, power output, and battery lifespan. Nickel-rich batteries, such as nickel-zinc variants, offer fast charging, reduce reliance on cobalt, and improve the overall electric vehicle (EV) value proposition. The global demand for nickel in batteries is projected to reach 500,000 tonnes by 2025 from 150,000 tonnes in 2020 due to the expanding EV market adoption. The International Energy Agency (IEA) forecasts that the number of electric cars will rise from over 10 million in 2020 to 145 million by 2030, spurred by larger battery capacities, faster charging, and advancements in reducing cobalt use. "Vedanta Nico, India's primary nickel producer, has signed a strategic Memorandum

India's critical minerals: EV boom ahead, but policy gaps persist

The Centre has also extended the concessional Customs duty of 5 per cent on Li-ion cells until March 2026

Budget 2024: Proposals for critical minerals to help achieve net-zero goals

The Budget announcements related to critical minerals and green transition will not only make India self reliant in resources but also help in meeting net-zero goals, energy industry players said. In her Budget speech on Tuesday, Finance Minister Nirmala Sitharaman announced a slew of measures for sectors, including infrastructure, manufacturing, healthcare, education, startups, and green energy, among others. Amit Rautela, CFO of state-owned Meja Urja Nigam said the Budget has strategically addressed present requirement of thermal power with a focus on Advanced Ultra Super Critical (AUSC) technology through joint venture route. Further, duty related measures for critical minerals will make the country self reliant in these important resources. According to Rahul Walawalkar, President of India Energy Storage Alliance (IESA), the announcement for pumped hydro storage in budget is a key step for supporting long duration energy storage technologies. Abolishment of angel tax is a great

Budget 2024: FinMin announces Critical Mineral Mission; what we know so far

Union Budget 2024: Finance Minister Nirmala Sitharaman announced the government will soon conduct the first round of offshore mineral auction round under the Critical Mineral Mission

Pentagon expresses concern at growing China, Russia cooperation in Arctic

China has its eye on mineral resources and new shipping routes as ice packs recede with rising temperatures

Coal India forays into critical mineral mining in Madhya Pradesh

CIL won the bid by quoting a mining premium of 150.05 per cent of the value of the mineral despatch, which it will pay to the State of Madhya Pradesh

Centre expands area limits by over 4x to boost critical minerals mining

The move comes after the Centre faced a setback in its initial auction of critical mineral blocks earlier this year

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

Centre plans to expand area limits to boost critical minerals mining

Shift aims to address challenges associated with mining critical minerals

India can be key partner in diversifying critical mineral supply chains: US

India has the potential to be a key partner in diversifying critical mineral supply chains globally, a senior US official has said at a conference that discussed the potential and opportunities to advance the respective clean energy agendas of the two countries. The one of its kind round table organised by the US-India Strategic Partnership Forum (USISPF) along with Silverado Policy Accelerator and Principal to Principal Strategies (P2P) discussed fortifying both nations' economic interests. The demand for key minerals, such as graphite, manganese, and lithium will continue to play a vital role in the electric vehicles (EV) space and will help India work towards its net zero vision in 2070, a statement said here. The bilateral US-India energy relationship is one of the most consequential in the world India has the potential to be a key partner in diversifying critical mineral supply chains globally, US Assistant Secretary of State for Energy Resources Geoffrey Pyatt said at an ...

India discusses critical mineral blocks with Africa, S America: Official

In January, KABIL signed a $24 million lithium exploration pact for five blocks in Argentina

China tightens management of rare earths, approves new regulation

Rare earths belong to the country and no organisation or individual are allowed to claim them, the State Council said in a statement on its website

Court approves billionaire Anil Agarwal's plan to reclaim Zambia mine

To get access to the mine again, Vedanta now needs to follow the court ruling by releasing $250 million to settle debts that KCM owes to contractors and suppliers

India's maiden critical mineral auctions: Who are the participants?

Among the five players who have won the bids, only Dalmia Bharat Refractories is affiliated with a major business group

Govt cancels 14 critical mineral block auctions launched in second tranche

India, in February, had launched the second part of its critical minerals auction worth an estimated $362 billion, listing 18 critical mineral blocks across eight states