India takes bold steps to secure critical minerals
13 Dec 2023
2 Min Read
CW Team
On November 1, 2022, the Ministry of Mines established a Committee tasked with identifying critical and strategic minerals. Among its recommendations was the creation of a National Institute or "Centre of Excellence on Critical Minerals" (CECM). The CECM's objective is to regularly update India's list of critical minerals, preferably every three years, and periodically announce the critical mineral strategy. The Committee identified 30 minerals as critical, with 24 included in Part D of Schedule 1 of the MMDR Act as critical and strategic minerals.
To ensure a steady supply of critical and strategic minerals to the Indian domestic market, a joint venture company named Khanij Bidesh India (KABIL) was formed. This venture received equity contributions from three Central Public Sector Enterprises: National Aluminium Company Ltd, Hindustan Copper, and Mineral Exploration and Consultancy KABIL, based on commissioned studies and selection criteria, has initiated engagement with state-owned organisations in shortlisted source countries, facilitated by the Ministry of External Affairs and Indian Embassies in countries like Argentina and Australia, aiming to acquire overseas mineral assets.
The Central Government, through the MMDR Amendment Act, 2023, amended the Mines and Minerals Development and Regulation Act, 1957, inserting 24 critical and strategic minerals into Part D of Schedule-I. These minerals are officially recognised as critical and strategic for the country. The amended Act also empowers the Central Government to auction critical and strategic mineral blocks. The first tranche of auction for 20 blocks took place on November 29, 2023, with details provided in the Annexure.
Furthermore, as part of its 'Science and Technology Programme,' the Ministry of Mines offers grants under S&T-PRISM for the Promotion of Research and Innovation in Start-ups and MSMEs in the Mining, Mineral Processing, Metallurgy, and Recycling Sector. One of the key focus areas under S&T-PRISM is the extraction of strategic and critical minerals at the elemental level.
On November 1, 2022, the Ministry of Mines established a Committee tasked with identifying critical and strategic minerals. Among its recommendations was the creation of a National Institute or Centre of Excellence on Critical Minerals (CECM). The CECM's objective is to regularly update India's list of critical minerals, preferably every three years, and periodically announce the critical mineral strategy. The Committee identified 30 minerals as critical, with 24 included in Part D of Schedule 1 of the MMDR Act as critical and strategic minerals.
To ensure a steady supply of critical and strategic minerals to the Indian domestic market, a joint venture company named Khanij Bidesh India (KABIL) was formed. This venture received equity contributions from three Central Public Sector Enterprises: National Aluminium Company Ltd, Hindustan Copper, and Mineral Exploration and Consultancy KABIL, based on commissioned studies and selection criteria, has initiated engagement with state-owned organisations in shortlisted source countries, facilitated by the Ministry of External Affairs and Indian Embassies in countries like Argentina and Australia, aiming to acquire overseas mineral assets.
The Central Government, through the MMDR Amendment Act, 2023, amended the Mines and Minerals Development and Regulation Act, 1957, inserting 24 critical and strategic minerals into Part D of Schedule-I. These minerals are officially recognised as critical and strategic for the country. The amended Act also empowers the Central Government to auction critical and strategic mineral blocks. The first tranche of auction for 20 blocks took place on November 29, 2023, with details provided in the Annexure.
Furthermore, as part of its 'Science and Technology Programme,' the Ministry of Mines offers grants under S&T-PRISM for the Promotion of Research and Innovation in Start-ups and MSMEs in the Mining, Mineral Processing, Metallurgy, and Recycling Sector. One of the key focus areas under S&T-PRISM is the extraction of strategic and critical minerals at the elemental level.
Next Story
Reliance, Diehl Advance Pact for Precision-Guided Munitions
Diehl Defence CEO Helmut Rauch and Reliance Group鈥檚 Founder Chairman Anil D. Ambani have held discussions to advance their ongoing strategic partnership focused on Guided and Terminally Guided Munitions (TGM), under a cooperation agreement originally signed in 2019.This collaboration underscores Diehl Defence鈥檚 long-term commitment to the Indian market and its support for the Indian Government鈥檚 Make in India initiative. The partnership鈥檚 current emphasis is on the urgent supply of the Vulcano 155mm Precision Guided Munition system to the Indian Armed Forces.Simultaneously, the 鈥淰ulc..
Next Story
Modis Navnirman to Migrate to Main Board, Merge Subsidiary
Modis Navnirman Limited has announced that its Board of Directors has approved a key strategic initiative involving migration from the BSE SME platform to the Main Board of both BSE and NSE, alongside a merger with its wholly owned subsidiary, Shree Modis Navnirman Private Limited.The move to the main boards marks a major milestone in the company鈥檚 growth trajectory, reflecting its consistent financial performance, robust corporate governance, and long-term commitment to value creation. This transition will grant the company access to a broader investor base, improve market participation, en..
Next Story
Global Capital Flows Remain Subdued, EMEA Leads in Q1 2025
The Bharat InvITs Association鈥檚 industry update for Q1 2025 shows subdued global capital flows, with investment volumes remaining at the lower end of the five-year range despite a late 2024 recovery. According to data from Colliers and MSCI Real Capital Analytics, activity in North America declined slightly, while EMEA maintained steady levels and emerged as the top region for investment in standing assets.The EMEA region now hosts seven of the top ten cross-border capital destinations for standing assets, pushing the United States鈥� share of global activity below 15 per cent. Meanwhile, in..
