Critical Minerals Summit

Source- This post on Critical Minerals Summit is based on the article “Mines Ministry to Hold Two-day Critical Minerals Summit from Tomorrow” published in “PIB” on 28th March 2024.

Why in the News?

The Ministry of Mines will hold a two day ‘Critical Minerals Summit: Enhancing Beneficiation and Processing Capabilities.’

About the Critical Minerals Summit:

1. About Critical Minerals Summit: It will be held from April 29th to April 30th, 2024, at the India Habitat Centre in Lodhi Estate, New Delhi.

2. Organized by: It was organized by Ministry of Mines, Government of India, in collaboration with the Shakti Sustainable Energy Foundation (Shakti), the Council on Energy, Environment and Water (CEEW), and the Indian Institute of Sustainable Development (IISD).

3. Goal: The goal of the summit is to equip government and industry stakeholders with the knowledge, connections, and tools necessary to accelerate the domestic production of CRMs. This initiative will contribute to India’s economic growth and sustainability goals.

4. Purpose: It is organized to promote collaboration, share knowledge, and drive innovation in the field of critical mineral beneficiaries and processing.

5. Features of the summit:

a) Emphasis on eight key minerals: The summit includes technical sessions on eight key minerals, including Glauconite (Potash), Lithium – Rare Earth Elements (Laterite), Chromium, Platinum Group, Graphite, Tungsten associated with Graphite, Rare Earths (RE), and Vanadium associated with Graphite.

b) Collaboration among various stakeholders: The summit will unite a diverse range of stakeholders from India and abroad, comprising industry leaders, startups, government officials, scientists, academics, and policy experts.

c) Tackle the growing demand for Critical Raw Materials (CRMs): It will address the growing demand for Critical Raw Materials (CRMs) which is essential for renewable energy systems and electric vehicles in line with India’s strategic development objectives.

d) Discussions and interactive workshops: Participants will participate in dynamic discussions and interactive workshops addressing vital issues such as mineral auction progress, policy incentives for CRM ecosystem development, and the promotion of commercially viable and environmentally sustainable solutions.

Read more: Critical minerals

UPSC Syllabus: Indian economy