India, a nation on the path to sustainable development, recently revealed its list of 30 critical minerals, each holding significant importance for the country’s economic growth and security. These minerals, including lithium, cobalt, graphite, and copper, are crucial elements in strategic value chains powering clean technologies such as zero-emission vehicles and renewable energy solutions like wind turbines and solar panels.
What Are Critical Minerals and Why Do They Matter?
Critical minerals are minerals identified as vital due to the risk of supply shortage and their impact on the economy. Their concentrated extraction in limited areas can create vulnerabilities in the supply chain, affecting sectors like electronics, telecommunications, transport, and defense. Additionally, these minerals form the backbone of clean technologies, advanced manufacturing, and information and communication technologies.
Formation of the Committee and Its Purpose
Taking proactive measures to address the challenges surrounding critical minerals, the Ministry of Mines established a seven-member committee in November 2022. Led by a joint secretary (Policy), the committee’s primary objective was to identify the minerals critical to India’s specific requirements, aligning with the nation’s energy transition goals and net-zero commitments.
Three-Stage Assessment Process
The identification of the critical minerals involved a comprehensive three-stage assessment conducted by the committee. This process included analyzing critical mineral strategies of various countries, conducting inter-ministerial consultations, and developing an empirical formula based on economic importance and supply risk criteria. As a result, the committee identified 30 minerals crucial for India’s sustainable growth.
The List of India’s Critical Minerals
The list of critical minerals comprises essential elements like Antimony, Beryllium, Cobalt, Copper, Lithium, Nickel, and many others. These minerals hold immense significance for various industries and sectors, playing a key role in powering renewable energy technologies and advancing towards a low-carbon emissions economy.
The Report’s Recommendations for a Bright Future
The report titled ‘Critical Minerals for India’ also includes valuable recommendations to enhance capacity building in this emerging sector. Inspired by Australia’s renowned Commonwealth Scientific and Industrial Research Organization (CSIRO), the report proposes the establishment of a ‘National Institute’ or ‘Centre of Excellence on Critical Minerals’ (CECM).
The CECM would focus on discovering next-generation critical mineral deposits through advanced geological knowledge, data analytics, and machine learning capabilities. It would also collaborate with other agencies to strategically acquire foreign assets related to critical minerals, ensuring a secure supply chain.
Looking Ahead: An Inclusive Approach
The critical minerals list will be periodically updated, and a strategic plan will be formulated every three years to expedite critical mineral mining, processing, manufacturing, and recycling in India. The central government’s financial and administrative support will play a vital role in empowering this essential sector and driving India’s sustainable growth and development.
