INDIA NOW EYES AFRICA FOR CRITICAL MINERALS
Why in the news?
India expands mineral search to Africa, eyeing cobalt and critical minerals; re-auctions lithium blocks in Kashmir.
source:slideserve
About the Auctioning of Mineral Blocks:
- Offshore Mineral Blocks: Auction rules for offshore mineral blocks are under review.
- Lithium Blocks in Kashmir: Due to low initial bids, lithium blocks in Jammu and Kashmir will be auctioned again in the third tranche.
- Number of Blocks: Ten blocks are scheduled for auction after general elections, with seven critical mineral blocks in the third round.
What are Critical Minerals?
● Definition: Natural substances formed by geological processes, with distinct chemical compositions and physical properties. ● Classification: Divided into metallic (e.g., iron, copper) and non-metallic (e.g., limestone, coal) minerals based on composition and usage. ● Critical minerals like lithium are crucial for electric vehicle batteries and align with India’s decarbonization goals. |