New Delhi [India], November 13 : The Ministry of Mines and International Energy Agency (IEA) signed an MoU on Wednesday for cooperation in the area of critical minerals.
The collaboration would provide India with access to reliable data, analysis, and policy recommendations in the critical mineral sector.
The International Energy Agency (IEA) is an international organization within the framework of the Organization for Economic Co-operation and Development (OECD).
This collaboration would enable India to streamline its policies, regulations, and investment strategies in the critical mineral sector.
"By learning from the experiences of other IEA member states and associated countries, India can accelerate its progress towards sustainable and resilient energy systems," the government said in a statement.
The MoU with the IEA would also facilitate capacity building and knowledge exchange between India and the IEA member states.
Collaboration on data collection, modelling, and analysis would enhance India's technical capabilities and institutional capacity in the critical mineral sector.
Furthermore, the joint research projects, workshops, and training programs carried out under this MoU would help fostering collaboration and innovation in technology development, extraction techniques, and recycling methods for critical minerals.
Critical minerals are those minerals that are essential for economic development and national security. It is imperative to identify and develop value chains for the minerals which are critical to the country.
In June 2023, India had identified 30 critical minerals taking into account its requirements for sectors like defence, agriculture, energy, pharmaceutical, and telecom, and in line with its Atmanirbar (self-reliance) roadmap.
Those critical minerals were 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. They are expected to serve as a guiding framework for policy formulation, strategic planning, and investment decisions in the mining sector.
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