Khanij Bidesh India Limited (KABIL) secured five critical mineral blocks in Argentina. Aiming to boost India's mineral reserves,Union Minister for Coal and Mines G. Kishan Reddy announced this Monday in Hyderabad. Operations already underway .
India imports about 93% of its critical minerals. Major risk for key industries. This acquisition is part of a broader push to secure overseas mineral assets,in line with government's National Critical Minerals Mission. ₹32,000 crore budget. Goal: boost domestic capabilities,aim for self-reliance.
Reddy stressed critical minerals' importance for sectors like semiconductors,renewable energy,electric mobility,defense. Ministry of Mines has a seven-point strategy: exploration, mining,processing, recycling,R&D. Government's ₹1,500 crore in incentives to promote recycling of critical minerals supports these efforts.
Reddy mentioned ongoing e-waste collection for critical minerals extraction. Auctions for mineral blocks fast-tracked, completed within nine months of mission launch . Shows urgency in tackling India's mineral supply issues.
Also, a dedicated initiative explores rare earth elements in Odisha, Andhra Pradesh, Tamil Nadu,Kerala. Strengthen domestic processing,with Odisha and Maharashtra active. Centre announced import duty exemptions on 24 critical minerals to cut costs for manufacturers . But will these steps be enough…?
