Page 144 - CW E-Magazine (7-1-2025)

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FAILING TO TAKE-OFF

Government cancels auction of 11 critical mineral

blocks due to poor response

The government has cancelled the celled the auction of three critical technology. The initiative involves
auction of 11 critical mineral blocks in mineral blocks in the third round, 14 government, industry, and research
the fourth round due to poor response. blocks in the second round, and 14 in the collaboration, focusing on acquiring
While no bids were received for four fi rst tranche of critical minerals as the overseas assets like lithium and cobalt,
blocks, the remaining seven mines got response was lukewarm. The govern- particularly in Australia, and boosting
less than three technically qualifi ed bid- ment had earlier said that 24 critical and domestic mining through auctions and
ders, according to the annulment notice. strategic mineral blocks have been sold roadshows.
The four blocks which include tungsten in four rounds of auction.
and glauconite, are located in the States According to an estimate by the
of Chhattisgarh and Arunachal Pradesh. “Out of 48 blocks put to e-auction, World Bank, by 2050, the production of
24 have been successfully auctioned, minerals, including lithium and cobalt,
Critical minerals, such as cobalt, including four mining lease (ML) and will need to increase by nearly 500%
copper, lithium, nickel and rare earths, 20 composite licenses (CL) blocks,” to meet the growing demand for clean
play crucial roles in the production of the mines ministry had said. energy technologies. The International
clean energy technologies, ranging Energy Agency foresees that the rise
from wind turbines to electric vehicles. India is all set to launch a Criti- in electric vehicles and battery stor-
cal Mineral Mission in 2025 to secure age will speed up the demand for these
The government had earlier can- vital resources for green energy and minerals at least 30 times by 2040.

Minister pushes for accelerated J&K lithium utilisation

India’s electric vehicle (EV) market lithium reserves. With 6-mt of lithium native chemistries such as sodium-ion,
is expected to reach Rs. 20 lakh-crore discovered in Jammu and Kashmir, zinc-ion, and aluminium-air batteries,
by 2030, generating fi ve-crore jobs accounting for 6% of the global reserves, with research led by Indian Oil Corpo-
across the EV ecosystem. Additionally, this resource has the potential to power ration Ltd. targeting a range of 450-km.
the EV fi nance market is projected to the production of 60-crore EVs. Efforts “These advancements in battery chemi-
grow to Rs. 4 lakh-crore by 2030, said are underway to accelerate the utilisation stry could prove to be a valuable
Mr. Nitin Gadkari, Union Minister of of this lithium, he said. national asset for India. Furthermore,
Road Transport & Highways, while the reduction in customs duty on lithium-
speaking at the 8th Catalyst Conference In addition to lithium-ion technology, ion batteries from 21% to 13% has
on the Sustainability of the E-Vehicle there is signifi cant progress in alter- made EVs more affordable,” he stated.
Industry – Evexpo 2024, New Delhi. Keva becomes member of Fragrance Creators

A key factor driving the success of Association
EVs is the lithium-ion battery, a critical The Fragrance Creators Association ingredients and unique cosmetic actives.
component in the transformation of the (FCA), the leading fragrance industry “Joining FCA enables us to strengthen
industry. trade association in North America, our engagement with industry peers and
has announced that Keva USA Inc. has amplify our leadership in sustainability
A lithium-ion battery’s current life joined its membership. Headquartered in initiatives,” said Mr. Kedar Vaze, CEO
cycle cost is $115 per kilowatt-hour, Mumbai, Keva is a leader in fragrances, of Keva. “Keva’s leadership in sustain-
but Mr. Gadkari predicted that it will fl avours, and aroma ingredients, and able practices and dedication to deliver-
drop below $100 within six months. operates globally, including a new full- ing high-quality fragrance solutions en-
As a result, lithium-ion manufacturing service affi liate in New Jersey, USA, hances our collective efforts to promote
has become a focal point. India is also serving diverse categories such as fi ne responsible stewardship,” added Ms.
positioning itself to leverage its domestic fragrances, personal & home care, aroma Farah Ahmed, FCA’s President & CEO.

144 Chemical Weekly January 7, 2025

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