New Delhi [India], September 11 (ANI): Union Minister for Coal and Mines G Kishan Reddy, on Friday, noted that critical minerals form a key agenda item for the upcoming BRICS Summit discussions, following bilateral talks with Russian officials and planned meetings with representatives from other member nations.
Outlining India's comprehensive strategy to achieve resource security, Reddy emphasised that critical minerals have become the bedrock of modern industrial growth, technology, and economic self-reliance.
Addressing the media in New Delhi, the minister detailed India's domestic manufacturing pushes, urban mining initiatives, and overseas asset acquisitions to reduce dependency on imports.
"Critical minerals represent a vital sector not just for India, but for the entire world. Nations globally are making significant efforts regarding it. Discussions are underway with various countries, and over the past year, under the Prime Minister's leadership, we have signed MoUs with several nations concerning critical minerals. Critical minerals are also a key agenda item for the upcoming BRICS Summit," Reddy said.
"Yesterday, we held a special meeting with the Russian minister. I intend to meet with representatives from other countries as well, because development today is impossible without critical minerals. From cell phones and space technology to fans, refrigerators, and cameras, there is a demand for critical minerals everywhere," he added.
Emphasising the Centre's commitment to reducing import dependency, the Union Minister outlined major domestic policy measures and investment incentives. The government has launched a flagship mission backed by a ₹36,000 crore incentive scheme to accelerate domestic exploration and processing capabilities.
"The Government of India aims to transition from its current dependence on foreign sources to self-sufficiency in critical minerals. To this end, we have ramped up domestic exploration activities and launched the National Critical Mineral Mission, which includes a ₹36,000 crore incentive scheme. We also aim to extract critical minerals from e-waste through urban mining," Reddy stated.
The Minister elaborated that urban mining could meet nearly a third of the country's requirements. India aims to source 25% to 30% of its critical mineral requirements through e-waste recycling. Out of 125 applicant companies, 58 recycling firms have been shortlisted for Phase 1 implementation.
Infrastructure initiatives include setting up four processing plants and establishing a dedicated critical mineral corridor extending from Odisha through Andhra Pradesh and Tamil Nadu down to Kerala.
"We can source 25 to 30 per cent of India's critical mineral requirements through e-waste recycling, and a dedicated scheme has been launched for this purpose. Around 125 recycling companies from across the country have applied, and we have shortlisted 58 of them for the first phase to boost e-waste recycling activities. We have also initiated the setup of four critical mineral processing plants and are establishing a corridor stretching from Odisha through Andhra Pradesh and Tamil Nadu down to Kerala," he said.
Addressing the supply of lithium, a crucial component for the green energy transition, Reddy revealed ongoing overseas block acquisitions and bilateral engagements. To compensate for limited domestic lithium reserves, India has acquired five lithium blocks in Argentina and is negotiating for five additional blocks, alongside active talks with Australia and Chile. Private Indian enterprises are also being encouraged to acquire overseas assets to secure raw materials for domestic production.
"Exploration activities have been conducted at various locations in India, but our domestic lithium reserves are very limited. Consequently, we have acquired five land blocks for critical minerals, specifically lithium, in Argentina, and exploration work is underway. We are in talks to acquire five additional blocks in Argentina and are also negotiating with Australia and Chile. As I mentioned earlier, we are encouraging Indian private companies to venture abroad, acquire lithium blocks, and bring the raw materials back to India," the Minister said. (ANI)
Critical minerals key agenda for upcoming BRICS Summit: Union Minister G Kishan Reddy
