Why is it in the News?

Ministry of Mines today organized a summit to foster collaboration, share knowledge, and drive innovation in the field of critical mineral beneficiation and processing in New Delhi.

About Critical Minerals Summit:

• The Critical Minerals Summit was organized by the Ministry of Mines, Government of India, in collaboration with the Shakti Sustainable Energy Foundation (Shakti), the Council on Energy, Environment and Water (CEEW), and the Indian Institute of Sustainable Development (IISD).
• It aims to promote collaboration and innovation in critical mineral beneficiation and processing.
• This event brings together a wide range of stakeholders, including industry leaders, startups, government officials, scientists, academics, and policy experts from both India and abroad.

Key Objectives:

• Tackling Demand: The summit seeks to address the growing demand for Critical Raw Materials (CRMs) needed for renewable energy systems and electric vehicles as part of India's strategic development goals.
• Focus on Key Minerals: The Ministry of Mines has identified eight crucial minerals for focus, including Glauconite (Potash), Lithium – Rare Earth Elements (Laterite), Chromium, Platinum Group, Graphite, Tungsten, Rare Earths (RE), and vanadium-associated with Graphite.
• Diverse Participation: The summit offers a platform for a diverse group of stakeholders to collaborate, share knowledge, and drive innovation in the field of critical minerals.

What are Critical Minerals?

• Critical minerals are metallic or non-metallic elements essential for modern technologies, economies, and national security, with potentially vulnerable supply chains.
• Their 'criticality' changes over time due to shifting supply and societal needs.
• Applications: Critical minerals are vital for manufacturing advanced technologies like mobile phones, computers, semiconductors, and renewable energy systems such as electric vehicles, wind turbines, solar panels, and batteries.
• They are also used in common products like stainless steel and electronics.
  • Examples of Critical Minerals are antimony, beryllium, cobalt, copper, gallium, germanium, lithium, vanadium, and more.
• Top Producers: Countries like Chile, Indonesia, Congo, China, Australia, and South Africa lead in critical mineral production.
• Critical Minerals in India: The Indian government has identified 30 critical minerals, including antimony, beryllium, cobalt, copper, gallium, graphite, hafnium, indium, lithium, molybdenum, nickel, niobium, phosphorous, potash, rare earth elements, rhenium, silicon, strontium, tantalum, tellurium, tin, titanium, tungsten, vanadium, zirconium, selenium, and cadmium.
• To meet the rising demand for critical minerals and ensure a stable supply, the Indian government is actively working on auctioning critical mineral blocks and fostering industry partnerships.
• These efforts are crucial for the country's economic development and energy transition goals.