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TMI BlogIndia to emerge as global hub for critical minerals: Union Mines ministerX X X X Extracts X X X X X X X X Extracts X X X X ..... India to emerge as global hub for critical minerals: Union Mines minister X X X X Extracts X X X X X X X X Extracts X X X X ..... ffshore mining auctions. Reddy made the remark after inaugurating the 3rd National Mining Ministers' Conference in Konark, in the presence of Odisha Chief Minister Mohan Charan Majhi, Bihar DyCM Vijay Kumar Sinha, Telangana DyCM Bhatti Vikramarka Mallu, and other dignitaries and industry leaders. "India will be the global destination for critical minerals. We are pioneering offshore mineral auct ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ions for the first time in 75 years to enhance self-reliance and reduce import dependence," the Union Coal and Mines minister said while stressing on the need for states to accelerate exploration and the auctioning of critical minerals. He told the conference attended by mining ministers of 16 states that the CMM will soon get Union Cabinet approval. He said the Union Finance minister had announc ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed it in her budget speech. Import duty on critical minerals has also been made zero, Reddy said. Lithium, cobalt, copper, nickel and rare earth elements are known as critical minerals which are essential for manufacturing defence equipment and key technologies. Stating that India has already made a place in the global platform on critical minerals, Reddy said his ministry wants the public and p ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rivate sectors to work in tandem in this regard. He suggested the states to involve private parties in the mining activities with transparency. Reddy also announced that India launched the auction of 48 critical mineral blocks, with 24 successfully allotted. "The fifth tranche offering of 15 critical mineral blocks was launched today, and industries have participated with full encouragement. This ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... momentum should continue," he added. He also recognised the growing potential of offshore mining, marking India's first offshore mineral auction, which will reduce import dependence and contribute significantly to India's self-sufficiency. The Union minister also urged the states to set up State Mineral Exploration Trust on the line of National Mineral Exploration Trust for increasing explorati ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on of mining resources. He said the Centre will provide some assistance for the trust and the states can utilise some funds from the royalty. Reddy called upon the states to expedite mine closure activities in a mission mode and develop the land which has been left abandoned after mining. He suggested that the abandoned mines could be used for generation of solar energy. Addressing the conferenc ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e, Odisha Chief Minister Mohan Charan Majhi said the state, known for its vast mineral resources, significantly contributes to India's industrial and economic growth. "The conference serves as a vital platform for knowledge-sharing, collaboration and policy deliberation to ensure sustainable and environmentally responsible mining practices," he said. Majhi said Odisha is poised to play a pivotal ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... role in this transformation, particularly as part of the 'Purvodaya Mission,' which aims to unlock the economic potential of India and build a more prosperous and self-reliant nation. Both Reddy and Majhi jointly launched the Mining Tenement System (MTS) at the conference. This cutting-edge digital platform will streamline processes, enhance transparency, and boost efficiency in the allocation a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nd management of mineral resources. They also handed over sanction letters to 11 startups, selected for funding of Rs 15.97 crore under S&T-PRISM component of science and technology programme of the Ministry of Mines. These startups will focus on indigenous technologies, including sustainable solutions like high-grade silica production, lithium battery materials, and AI-enhanced mining operations ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... . The Union minister and Odisha CM also presented awards for excellence in mineral block auctions. Rajasthan secured the top position, followed by Madhya Pradesh and Maharashtra, for their outstanding contribution in conducting the highest number of auctions in the 2023-24 fiscal. They also jointly released the booklet on 'Best Practices on Mine Closure' at the conference. Union Mines secretar ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y VL Kantha Rao addressing the conference highlighted significant achievements in the mining sector. He said that 75 per cent of mining block auctions have been conducted in the last four years, with Odisha generating Rs 1.33 lakh crore in mineral revenue over a decade. PTI AAM MNB AAM RG X X X X Extracts X X X X X X X X Extracts X X X X
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