Vikram Handa’s Post

https://zurl.co/i7CO In budget 2024, Finance Minister Nirmala Sitharaman announced the launch of a Critical Minerals Mission to boost domestic production and processing of critical minerals essential for clean energy technologies. This move aims to reduce India's reliance on imports and build resilient supply chains for critical minerals like aluminum, cobalt, copper, graphite, lithium, manganese, and nickel, which are projected to see a sharp rise in demand due to the country's energy transition goals

India currently needs to import most critical minerals, and access to local mines is important for the growth of the electric vehicles market and the renewable-power sector.

The MoU on critical mineral between India and US is a major step forward for both countries in achieving clean energy goals and strengthening their partnership. This will help both nations work together to source important minerals like lithium cobalt, which are essential for EV’s. However, to fully benefit from this partnership, we need to focus not just on material processing but also on investing in the entire supply chain, including mining and refining. Signing the US Critical Materials Act with India is key to get tax credits under US Inflation Reduction Act for US auto OEMs and attracting foreign investments and making large-scale manufacturing in India. This will be an important step in maximizing the benefits of the US-India partnership. Epsilon Advanced Materials, leading the battery materials space, is playing a crucial role by focusing on high-quality, sustainable graphite anode and LFP Cathode for lithium-ion batteries, contributing to the clean energy ambitions of both nations. #Collaboration #CriticalMinerals #Investment #ElectricVehicles https://lnkd.in/eGsUDEcu

Just released report by IEEFA on India's hunt for a subset of critical minerals (Li, Ni, Co, Cu and graphite). Key Finding: "India can deepen its strategic partnerships with geopolitically stable countries and increase its procurement of minerals from them as domestic demand for these minerals rises. The country can explore investment opportunities in resource-rich, friendly nations, such as Australia, Chile, Ghana and South Africa." This is supportive of CSIRO's work within the 'India Australia Critical Minerals Reaearch Partnership', led by Dr Joanne Loh. #FurtherTogether https://lnkd.in/gyctSn9d.

India's Strategic Moves in Critical Minerals and Clean Energy India is making notable strides in the critical minerals and clean energy value chain. The Ministry of Mines has identified 24 critical and strategic minerals, aiming to enhance cooperation with the U.S. in securing supply chains for graphite, gallium, and germanium. Key Initiatives: Bilateral Agreement with the U.S.: India and the U.S. are working towards a bilateral agreement to boost cooperation between their commerce and mines ministries, focusing on critical minerals. Global Investments: India plans to co-invest in a lithium project in South America and a rare earth deposit in Africa, as part of the mineral security partnership. Domestic Exploration: In July 2023, India listed 30 critical minerals and amended the Mines and Minerals Act to expedite exploration with advance payments to private companies. Khanij Bidesh India Ltd. (KABIL): This joint venture aims to acquire #critical_mineral assets abroad, focusing on lithium and cobalt in #Australia, #Argentina, and #Chile. Research and Development: An #India-#U.S. advanced materials research forum will foster collaboration in neodymium-iron-boron technologies and other critical mineral studies. E-Auction of Mineral Blocks: The government launched e-auctions for 20 critical mineral blocks to secure a steady supply and reduce import dependency. Securing these minerals is vital for India’s green energy transition and reducing its carbon footprint.

Pursuit of #criticalminerals is not just an economic imperative. Energy transition and de-carbonisation will require access to critical minerals. I have shared some views in the article. Having spent a large part of my professional life in search for India's mineral wealth (both petroleum and others), some of my learnings and relevant here: 1. Finding minerals is a huge #entreprenuerial endeavour and takes years. 2. Importance of #markets -- It helps the world access the minerals without having to own them and without difficult annual negotiations. 3. #Brownfield expansion is much easier than greenfield expansion as the risks are lower and capacity increase can keep pace with demand. As India embarks on the search for critical minerals, 3 suggestions: 1. Instead of mineral auctions, it would be good read about exploration companies getting blocks on a first cum first serve basis in India. As an example, discovery of shale gas and oil which has benefitted India immensely (by keeping petroleum prices in check) happened on a first cum first serve regime and not on lands auctioned by Governments. 2. Transparent markets coming in for each critical mineral will help. 3. Mineral processing capacity should be developed in India and would require Government support. Once some critical mass comes up, brownfield expansion would be easier.

Critical minerals are essential for modern technologies, from electric vehicles and renewable energy to national defence and aerospace. With its growing economy and ambitious clean energy goals, India faces a rising demand for these vital resources. India possesses reserves of several critical minerals, including #lithium, #cobalt, #rareearths, and #graphite. However, current domestic production needs to meet the country's needs. The government is actively exploring and developing domestic sources of critical minerals to reduce dependence on imports. India is building a robust ecosystem for processing and manufacturing critical minerals. This involves attracting investments in refineries and production facilities. Also reaching out to #Global #Mineralproducers for #processingtechnologies. Developing a robust domestic critical minerals strategy is crucial for India's technological and economic self-reliance. By balancing resource security, environmental sustainability, and skilling the workforce, India can unlock this sector's immense potential. #CriticalMinerals #India #Manufacturing #Sustainability #CleanEnergy REIA - The Global Rare Earth Industry Association Lynas Rare Earths Ltd RARE EARTH ASSOCIATION OF INDIA American Geosciences Institute International Aluminium Institute International ALUMINIUM Journal Lithium Americas Corp. Australian Trade and Investment Commission (Austrade) Mining Magazine Australia https://lnkd.in/ggqNAqRm

India's Ministry of Mines, in collaboration with CSIR-National Institute for Interdisciplinary Science and Technology (NIIST), is spearheading a new initiative to enhance the extraction of critical minerals like lithium and rare earth elements. With significant funding allocated to research and development, this initiative is a strategic move to reduce India's reliance on imports and build a robust domestic industry. The recent efforts in Chhattisgarh and Jammu and Kashmir highlight both the challenges and the potential of this ambitious project. This could be a turning point for India's energy independence and a key driver of its role in the global energy transition. #CSIRNIIST #MinistryOfMines #Chhattisgarh #JammuAndKashmir #CriticalMinerals #EnergyIndependence #India #EnergyTransition #Lithium https://lnkd.in/ddYE9WGU