Critical Minerals Summit

30.04.2024

Critical Minerals Summit

Why in the news?                  

             The Ministry of Mines held a two day “Critical Minerals Summit: Enhancing Beneficiation and Processing Capabilities” in New Delhi.

About Critical Minerals Summit:

• It is 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 is designed to foster collaboration, share knowledge, and drive innovation in the field of critical mineral beneficiation and processing.

• It will bring together a diverse array of Indian and international stakeholders, including industry leaders, startups, government officials, scientists, academics and policy experts.
• It will address the increasing demand for Critical Raw Materials (CRMs) required for renewable energy systems and electric vehicles as part of India's strategic development goals.
• The Ministry of Mines has identified eight key minerals for focus at the summit, including Glauconite (Potash), Lithium – Rare Earth Elements (Laterite), Chromium, Platinum Group, Graphite, Tungsten associated with Graphite, Rare Earths (RE) and Vanadium associated with Graphite.

Key Facts about Critical Minerals:

• It is a metallic or non-metallic element that has two characteristics.
• It is essential for the functioning of our modern technologies, economies or national security and
• There is a risk that its supply chains could be disrupted.
• The 'criticality' of minerals changes with time as supply and society's needs shift.

Applications:

○They are used to manufacture advanced technologies, including mobile phones, computers, fiber-optic cables, semiconductors, banknotes, and defense, aerospace and medical applications.

○Many are used in low-emission technologies, such as electric vehicles, wind turbines, solar panels, and rechargeable batteries.

○Some are also crucial for common products, such as stainless steel and electronics.

• Examples: antimony, beryllium, bismuth, cobalt, copper, gallium, germanium, lithium, vanadium, etc.
• Top Producers: Chile, Indonesia, Congo, China, Australia and South Africa.

Critical Minerals in India:

• Government has released a list of 30 critical minerals for India.
• These minerals are 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.

                                                                      Source: PIB