“INDIA’S CRITICAL MINERALS BENEFITS DELAYED; AUCTIONS BEGIN AMID IMPORT RELIANCE”
Why in the news?
- India’s critical minerals drive may not yield full commercial benefits before 2031, exposing the country to supply shocks for essential minerals like lithium and cobalt.
- The government has started auctioning 38 blocks of critical minerals despite current reliance on imports.
Source: ResearchGate
About Critical Minerals:
- Elements essential to the functioning of modern societies and economies.Face potential supply risks due to geological scarcity, or other factors.
- Dynamic Process:Evolves over time with new technologies, market dynamics, and geopolitical considerations.
- Platinum Group Metals (PGMs)- Uses: Key in catalytic converters, fuel cells, and electronics.
- Lithium, Cobalt, and Nickel– Uses: Essential for lithium-ion batteries in EVs, portable electronics, and energy storage.
- Titanium– Uses: Aerospace applications for strength, corrosion resistance, and high temps.
- In 2023, the Indian government listed 30 critical minerals: Antimony, Beryllium, Bismuth, Cobalt, Copper, Gallium, Germanium, Graphite, Hafnium, Indium, etc.
About Geological Survey of India (GSI):
Associated Article: https://universalinstitutions.com/cabinet-approves-royalty-rates-for-strategic-minerals/ |