Page 136 - CW E-Magazine (14-1-2025)

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SECURING SUPPLIES

Mines Ministry looks to appoint dedicated officers

abroad to secure critical minerals supply

The Ministry of Mines is conside- ensuring seamless coordination with The Mines Minister said work
ring appointing dedicated officers as local authorities, mining entities and under-way on the National Critical
representatives for the ‘Critical Mineral government agencies,” the letter, Mineral Mission will “diversify
Mission’ and Khanij Bidesh India Ltd. written last month, read. sources of critical raw materials”,
(KABIL) at various Indian Missions foster sustainable mining partnerships
abroad. The Ministry has requested the Point of contact and support domestic manufacturing
Ministry of External Affairs (MEA) to The officers would be a single point through assured availability of these
assist in facilitating the process. of contact, including for companies minerals. “Concurrently, KABIL – the
that are looking to invest overseas and state-owned entity formed to acquire
The officers will act as a central facilitate handholding, if required. mines overseas – is being strengthened
point of contact for Indian companies to reinforce mineral security,” he
seeking investment opportunities in India has identified 24 critical mine- added.
critical minerals abroad, coordinate rals, including lithium – five blocks of
with local governments, mining entities which have been acquired in Argentina, Fund planned
and relevant authorities in the respec- where non-invasive exploration is The Mines Ministry is also planning
tive countries. The initiative is a part of underway, along with due diligence to establish a fund to support explora-
India’s strategy to secure a stable sup- being conducted for blocks in Australia. tion, acquisitions, and investment
ply of critical minerals to support its Efforts are also focused on copper and opportunities, while also setting up
energy transition and industrial needs. cobalt, with sourcing and exploration mineral processing facilities abroad.
discussions underway with African
In a letter to the External Affairs nations such as Congo and Zam- The fund, the contours of which
Minister, Mr. S Jaishankar, the Union bia. Other critical minerals on the list are being worked out and still under
Coal and Mines Minister, Mr. G. Kishan include vanadium, molybdenum, nickel, discussion, could be on the lines of the
Reddy, put forward the request to rare earth elements (REE), platinum National Mineral Exploration Trust
“designate officers” in select Indian group elements (PGE) and graphite. (NMET) with a probable two-tier struc-
Missions including Argentina, Australia, ture. It would have a funding provision
Zambia, Democratic Republic of India also has MoUs with at least that includes contributions from the
Congo (DRC) and South Africa. 13 countries for exploration, sourcing industry, and financial institutions, if
and possible investment by private and needed.
“I would also like to request to government-run entities in the field of
designate officers in selected Indian critical minerals. Some of these countries This fund is expected to be a part of
Missions .... to act as ‘Critical Mineral include Mozambique, Cote d’Ivorie, the overall National Critical Minerals
Mission & KABIL’ representatives, Chile, Colombia, Bolivia and Morocco. Mission.

TACKLING IMPORT SURGE
Quantitative restrictions imposed on imports of low

ash metallurgical coke

Based on the recommendations of ash metallurgical coke for a period of developing countries other than China and
the Directorate General of Trade Reme- six months, with effect from 1st Janu- Colombia are exempt from the safeguard
dies (DGTR), the Directorate General ary 2025 till 30th June 2025. measures. The measures shall be moni-
of Foreign Trade has imposed safe- tored on a quarterly basis for compliance
guard measures in the form of Quanti- The restrictions have been imposed and shall be permitted only through
tative Restrictions on imports of low on imports from all sources. However, Electronic Data Interchange ports.

136 Chemical Weekly January 14, 2025

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