{"id":251900,"date":"2023-07-13T20:48:10","date_gmt":"2023-07-13T15:18:10","guid":{"rendered":"https:\/\/blog.forumias.com\/?p=251900"},"modified":"2023-07-13T20:48:10","modified_gmt":"2023-07-13T15:18:10","slug":"cabinet-okays-commercial-mining-of-lithium-titanium","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/cabinet-okays-commercial-mining-of-lithium-titanium\/","title":{"rendered":"Cabinet okays commercial mining of lithium, titanium"},"content":{"rendered":"\n

Source: <\/b>The post is based on the article<\/span> \u201cCabinet okays commercial mining of lithium, titanium\u201d <\/b>published in<\/span> Livemint <\/b>on 12th July 2023<\/b><\/p>\n

What is the News?<\/b><\/h2>\n

The Union Cabinet has approved amendments to the Mines and Minerals (Development and Regulation) Act, 1957 to allow the commercial mining of six critical minerals.<\/span><\/p>\n

Which are the six critical minerals where commercial mining will be allowed now?<\/b><\/h2>\n

The six critical minerals are: lithium, beryllium, niobium, tantalum, titanium and zirconium.<\/span><\/p>\n

Till now, commercial mining of these critical minerals by private companies was prohibited. Only government agencies were allowed in exploration and mining operations.\u00a0<\/span><\/p>\n

The amendment proposed to insert the provision of an exploration license in the law which will be granted through auction for undertaking reconnaissance and prospecting operations.<\/span><\/p>\n

Companies will be allowed to suggest areas they want to explore, and eventually mine.This is a deviation from the usual practice where blocks or mines are defined by the government to to be taken up for auction.<\/span><\/p>\n

What are the uses of these critical minerals? <\/b><\/h2>\n

1) <\/b>Lithium is a key component for electric vehicles, batteries and other energy storage solutions. <\/span>2)<\/b> Beryllium is used in aerospace, defence, IT, telecommunications and so on <\/span>3) <\/b>Titanium is used in mobile phones, bicycles and prosthetics <\/span>4) <\/b>Niobium is used in jet engines and rockets <\/span>5)<\/b> Tantalum is used in electrolytic capacitors and corrosion resistant chemicals and <\/span>6)<\/b> Zirconium is used primarily in fabrication and as an alloying agent.<\/span><\/p>\n

What is the significance of this decision?<\/b><\/h2>\n

The changes are likely to incentivise private sector participation in all spheres of mineral exploration, with a focus on precious and critical ones.\u00a0<\/span><\/p>\n

This will also help reduce India\u2019s import dependence on critical minerals such as lithium.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Source: The post is based on the article \u201cCabinet okays commercial mining of lithium, titanium\u201d published in Livemint on 12th July 2023 What is the News? The Union Cabinet has approved amendments to the Mines and Minerals (Development and Regulation) Act, 1957 to allow the commercial mining of six critical minerals. Which are the six… Continue reading Cabinet okays commercial mining of lithium, titanium<\/span><\/a><\/p>\n","protected":false},"author":10317,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[1566,3127,9],"tags":[10501],"class_list":["post-251900","post","type-post","status-publish","format-standard","hentry","category-daily-factly-articles","category-economy","category-public","tag-live-mint","entry"],"jetpack_featured_media_url":"","views":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/251900","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/10317"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=251900"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/251900\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=251900"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=251900"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=251900"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}