Govt formulating critical minerals policy, exploring pact with US

New Delhi, September 27 The Central government is working towards formulating a holistic policy for critical minerals, and has sought inputs from stakeholders on it.

According to sources aware of the development, in a meeting of the inter-ministerial group (IMG) on critical minerals, which was presided over by mines secretary V.L. Kantha Rao recently, deliberations were held on India joining the critical raw materials club, which has been proposed by the European Union.

The IMG also discussed entering into a MoU with the US on critical minerals sourcing, sources aware of the development said.

It was decided in the meeting that all stakeholding ministries have to give their inputs for formulating a policy on critical minerals.

Representatives from the department of atomic energy, commerce ministry and external affairs ministry were present in the meeting.

Discussions also took place on internal initiatives, multilateral and bilateral partnerships and exploration opportunities with the above mentioned officials.

In June, the Union Mines Ministry had released a list of 30 critical minerals, which are being considered essential for economic development and national security.

The 30 minerals listed as critical by the government include Antimony, Beryllium, Bismuth, Cobalt, Copper, Gallium, Germanium, Graphite, Hafnium, Indium, Lithium, Molybdenum, Niobium, Nickel, PGE, Phosphorous, Potash, REE, Rhenium, Silicon, Strontium, Tantalum, Tellurium, Tin, Titanium, Tungsten, Vanadium, Zirconium, Selenium and Cadmium.

Mines Ministry officials have said that to reduce carbon emissions, the country needs to urgently relook at its mineral requirements for energy transition and net-zero commitments.