• UGI USER
  • Mar 23, 2024
  • 23 Likes
  • 0 Comments

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.