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In this tranche, 21 critical mineral blocks will be auctioned containing contain a variety of minerals including Graphite, Glauconite, Phosphorite, Potash, Nickel, Phosphate and Rare Earth Elements (REE).
About Critical Minerals
- Critical minerals are elements that are building blocks of essential modern-day technologies and are at risk of supply chain disruptions due to limited global production and geopolitical factors.
- In 2023, 30 strategically important Critical Minerals were identified by Ministry of Mine including Antimony, Beryllium, Bismuth, Copper, Gallium, etc.
Significance of Critical Minerals
- Economic growth: Cobalt, nickel, and lithium are important for the telecommunication industry, manufacturing of electric vehicle batteries etc.
- Clean energy: REEs are critical for green technologies like semiconductors, solar panels and wind turbines etc.
- National Security and Defense: Cobalt is used in military technologies like smart bombs, aircraft, and precision-guided missiles.
Associated concerns
- Concentration of extraction or processing in a few geographical locations could lead to supply chain vulnerabilities.
- For instance, the Lithium triangle consists of Argentina, Chile, and Bolivia.
- India relies on imports for its silver, and cobalt needs, predominantly sourced from China.
Initiatives taken with respect to Critical Minerals
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