Latest news with #NationalCriticalMineralMission
Hindustan Times
2 days ago
- Business
- Hindustan Times
Reduce over-dependence on China for critical minerals
As we steer toward a future shaped by renewable energy and electric mobility, lithium-ion batteries have emerged as the backbone of this transformation. From electric vehicles (EVs) to energy storage systems (ESS), the demand for lithium and other critical minerals is surging exponentially. Yet, even as global momentum accelerates, India finds itself at a juncture where we are deeply dependent on foreign sources, especially from China, to meet our mineral needs. This import reliance is not just a logistical inconvenience; it is a strategic vulnerability. Renewable energy, by its very nature, should represent independence in a way that is free from fossil fuel geopolitics and volatility. But when a country imports nearly 100% of its lithium and other key mineral requirements, the promise of energy sovereignty begins to waver. Recognising this urgent challenge, the Government of India has launched the National Critical Mineral Mission which mandates PSUs to enter into public private partnerships with private entities such as ourselves and many other innovative companies to make foreign and domestic investments, acquire technology and prepare itself for the large-scale operations that are to come. The lithium-ion battery supply chain is inherently complex, requiring a seamless integration of mineral exploration, refining, cell chemistry, and manufacturing. It is not enough to mine lithium; one must also refine it with precision, a capability that India currently lacks at commercial scale. We are also vulnerable to a lack of policy support for battery component manufacturers who can apply new technologies they develop or acquire. This is precisely where our next move becomes critical. As the US-led 14-nation Mineral Security Partnership aligns to democratise and strengthen the critical minerals supply chain, Altmin is stepping up to acquire a sizeable stake in a commercial scale lithium refinery, the only one operational outside China. The move will give Altmin access to refining technology that would otherwise take years to develop. The Government of India and other research and development (R&D) entities are exploring the exploitation of critical minerals. But despite these efforts, India will miss opportunities of the green energy race to the already established Chinese eco-system; unless India adapts existing technology and fast-tracks its own ecosystem reinforced through government policy. A quick five-point industry ask, if met, will accelerate India's self-reliance in this sector. Standardisation of original equipment manunfacturer (OEM) specifications is the need of the hour. For consistent and scalable manufacturing of cells, the specifications demanded by OEMs must be standardised based on industry requirements. This will eliminate unnecessary variability and help manufacturers plan optimal production lines. Next in line is stabilisation of kilowatt-hour (kWh) pricing. The current spot prices for cell energy (kWh) are influenced by undervalued and cut-rate pricing practises, especially from China. To counteract this, a mechanism to stabilise the kWh pricing is needed, ensuring fair value for domestic manufacturers. I would like to propose a minimum support price for cells so that there is a baseline economic viability that is ensured for manufacturers, independent of international price fluctuations. The cost of cell production is directly tied to the input components—anode, cathode, electrolyte, and other battery materials. A component-wise minimum support price framework with a fixed minimum profit margin for component manufacturers will encourage growth in these stages of the value chain. To promote Atmanirbhar Bharat, all cell manufacturers availing the minimum support price regime should achieve at least 60% localisation within the next two years. This localisation should be monitored and audited to ensure compliance in both letter and spirit. These measures will catalyse domestic manufacturing and protect Indian manufacturers from global market distortions, enabling long-term competitiveness and technological sovereignty. For these efforts to bear fruit at scale, we must adapt existing technologies, foster global collaborations, and build a nurturing domestic ecosystem that can withstand the rigors of future demand. Only then can we secure not just our energy future—but our strategic autonomy. This article is authored by Anjani Sri Mourya Sunkavalli, founder and MD, Altmin.
Time of India
3 days ago
- Business
- Time of India
Increased capex, focus on rare earth minerals may shape India's 'Viksit Bharat' journey: EY report
In June 2023, India has identified at least 30 critical minerals taking into account its requirements for sectors like defence, agriculture, energy, pharmaceutical, and telecom. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads An increased capital expenditure and focus on rare earth minerals may shape India's Viksit Bharat journey, according to a report by EY. It suggested that policy measures must balance consumption support with increased capital India's long-term growth relies on building resilience through self-reliance in critical minerals. Critical minerals are those minerals that are essential for economic development and national June 2023, India has identified at least 30 critical minerals taking into account its requirements for sectors like defence, agriculture, energy, pharmaceutical, and has launched a National Critical Mineral Mission in 2025 to address this, but further support from both the public and private sectors will be important, EY said. Strengthening partnerships with countries rich in rare earth resources could also help reduce supply chain to the EY Economy Watch May edition, India's economic growth for 2025-26 is expected to moderate, influenced by a mix of global and domestic the EY report said India remains one of the fastest-growing major economies, supported by resilient domestic demand, easing inflation, and an accommodative monetary policy linked to prospects of revival in private per EY report analysis, global factors are largely contributing to a cautious outlook. These include continuing supply chain disruptions, the impact of recent tariff measures by the US, and broader uncertainties in global trade and geopolitical report suggests that in the near term, India may need to rely on a balanced mix of monetary and fiscal policies for sustaining the growth momentum. On the monetary front, a continuation of the ongoing rate cut cycle could provide support to consumption and the fiscal side, reviving the momentum in public investment especially the government's capital expenditure, which witnessed a moderation in growth in 2024-25, will be important to sustain economic Srivastava, Chief Policy Advisor, EY India said, "While India's medium-term prospects remain strong, current global headwinds and domestic challenges call for supportive fiscal and monetary policies. Over the long run, sectors linked to technology and clean energy will play a key role in driving sustainable growth. Building resilience through self-reliance in critical minerals, especially in rare earths, can help India move closer to its Viksit Bharat aspirations."
India Gazette
3 days ago
- Business
- India Gazette
Increased capex, focus on rare earth minerals may shape India's 'Viksit Bharat' journey: EY report
New Delhi [India], May 28 (ANI): An increased capital expenditure and focus on rare earth minerals may shape India's Viksit Bharat journey, according to a report by EY. It suggested that policy measures must balance consumption support with increased capital expenditure. Also, India's long-term growth relies on building resilience through self-reliance in critical minerals. Critical minerals are those minerals that are essential for economic development and national security. In June 2023, India has identified at least 30 critical minerals taking into account its requirements for sectors like defence, agriculture, energy, pharmaceutical, and telecom. India has launched a National Critical Mineral Mission in 2025 to address this, but further support from both the public and private sectors will be important, EY said. Strengthening partnerships with countries rich in rare earth resources could also help reduce supply chain risks. According to the EY Economy Watch May edition, India's economic growth for 2025-26 is expected to moderate, influenced by a mix of global and domestic developments. Yet, the EY report said India remains one of the fastest-growing major economies, supported by resilient domestic demand, easing inflation, and an accommodative monetary policy linked to prospects of revival in private investment. As per EY report analysis, global factors are largely contributing to a cautious outlook. These include continuing supply chain disruptions, the impact of recent tariff measures by the US, and broader uncertainties in global trade and geopolitical developments. EY report suggests that in the near term, India may need to rely on a balanced mix of monetary and fiscal policies for sustaining the growth momentum. On the monetary front, a continuation of the ongoing rate cut cycle could provide support to consumption and investment. On the fiscal side, reviving the momentum in public investment especially the government's capital expenditure, which witnessed a moderation in growth in 2024-25, will be important to sustain economic activity. DK Srivastava, Chief Policy Advisor, EY India said, 'While India's medium-term prospects remain strong, current global headwinds and domestic challenges call for supportive fiscal and monetary policies. Over the long run, sectors linked to technology and clean energy will play a key role in driving sustainable growth. Building resilience through self-reliance in critical minerals, especially in rare earths, can help India move closer to its Viksit Bharat aspirations.' (ANI)
Time of India
4 days ago
- Business
- Time of India
Oil India wins Rajasthan Potash-Halite block in first-ever auction under 5th tranche
New Delhi: Oil India Ltd (OIL) has secured the Jorkian–Satipura–Khunja Amalgamated Potash and Halite block in Rajasthan's Hanumangarh district, becoming the preferred bidder in the fifth tranche of critical and strategic mineral auctions conducted by the Ministry of Mines . This marks the first-ever successful auction of a Potash block by the Government of India. The block was one of 10 mineral blocks awarded in the tranche that featured minerals such as Graphite, Phosphorite, Phosphate, Rare Earth Elements (REE), Vanadium, Potash and Halite across six states — Chhattisgarh, Karnataka, Madhya Pradesh, Odisha, Rajasthan, and Uttar Pradesh. 'Oil India Limited, the Maharatna CPSE of Govt of India, in its commitment towards energy transition and diversifying the business portfolio have successfully bagged a critical and strategic mineral block under the 5th tranche of auction conducted by the Ministry of Mines, Govt. of India,' the company said in a statement. 'OIL has been declared as the Preferred Bidder for grant of composite license for the Jorkian–Satipura–Khunja Amalgamated Potash and Halite Block in Hanumangarh district of Rajasthan,' it said. The auction marks Oil India's entry into the critical and strategic minerals segment. The block awarded to Oil India is among the 34 total blocks awarded across five tranches so far, out of 55 blocks put up for auction. 'OIL's strategic diversification into critical minerals represents a well-timed response to national priorities to support India's self-reliance goals,' the company stated. The Ministry of Mines has also launched the National Critical Mineral Mission to facilitate exploration, development, and self-sufficiency in key minerals critical for energy transition and industrial use.
Hans India
4 days ago
- Business
- Hans India
Two potash blocks auctioned for the first time in India: Kishan Reddy
Hyderabad: Union Minister for Coal and Mines G Kishan Reddy said that for the first time, India has paved the way for 'Potash Mining', taking taking a bold leap towards self-reliance in fertiliser minerals under the leadership of Prime Minister Narendra Modi. He said that by unlocking the potential of potash mining, 'we are set to reduce import dependence and strengthen the backbone of our agriculture and our farmers.' Kishan Reddy's comments on Tuesday come in the context of the recent Tranche V auction of critical and strategic mineral blocks, launched on January 28, concluding with the successful auction of 10 out of the 15 blocks offered. These 10 blocks include critical and strategic minerals such as graphite, phosphorite, phosphate, rare earth elements (REE), vanadium, and, for the first time, potash and halite. The blocks are located across Chhattisgarh, Karnataka, Madhya Pradesh, Odisha, Rajasthan, and Uttar Pradesh. With this auction, the total number of blocks auctioned by the Central Government has reached 34. The Union Minister said that a key milestone in Tranche V is the successful auction of a potash block, marking the first time the Government of India has auctioned a potash block. This development is expected to stimulate potash mining in the country reduce reliance on imports, and provide stronger support to the agriculture sector. Additionally, this auction marks the first successful auction of a critical and strategic mineral block in the state of Rajasthan. To date, a total of 34 blocks have been successfully auctioned in five tranches out of a total of 55 critical mineral blocks that were made available for auction. The regular auctioning of critical mineral blocks is a vital part of the strategy adopted by the Ministry of Mines to promote self-sufficiency in critical minerals within the country. The Ministry of Mines is also focused on exploring critical minerals. It has launched the National Critical Mineral Mission to develop a sustainable critical mineral ecosystem in India. The Ministry recognises the valuable participation of industry stakeholders in both the auctions and other initiatives aimed at achieving self-sufficiency in critical minerals.
