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India's Critical Minerals Strategy - Coggle Diagram
India's Critical
Minerals Strategy
Central Idea
Auction includes 5.9 million-tonne lithium reserves in Jammu and Kashmir.
Central Government initiates auctioning of critical minerals.
What are
Critical Minerals?
Antimony, Beryllium, Cobalt, Copper, Lithium, Rare Earth Elements, and more.
Lack of availability or concentration leads to supply chain vulnerability.
Declared "critical" by the central government in July 2023.
Essential for economic development and national security.
Significance of
Critical Minerals
Geostrategic significance: Diversification of supply chain.
National security: Reducing dependence on imports.
Support for net-zero carbon energy systems.
Economic development: Crucial for high-tech sectors.
Challenges
Dependence on Imports.
Lack of Advanced Technology and Processing Facilities.
Environmental and Social Issues.
Limited Domestic Reserves and Exploration.
Government
Initiatives
Khanij Bidesh India Ltd (KABIL): Joint venture for a consistent supply.
Research and Development: Support for critical minerals exploration and production.
National Mineral Policy 2019: Focus on exploration and exploitation.
Partnerships and Alliances: Engaging with countries like Australia.
MMDR Act Amendment: 24 minerals notified as critical and strategic.
Way Forward
Model after Commonwealth Scientific and Industrial Research Organisation (CSIRO) of Australia
Establish a National Institute or Centre of Excellence for Critical Minerals.
Bilateral and Plurilateral Arrangements: Build assured and resilient supply chains.
Develop the entire value chain.