Govt backs private miners' overseas push to secure critical minerals

Mines Minister G Kishan Reddy on Friday said the government is stepping up efforts to support private mining entrepreneurs overseas.

Speaking at an event on Advanced Materials, Critical Minerals & Metals organised by the Confederation of Indian Industry (CII) here, he said the Ministry of Mines was working with the Ministry of External Affairs to “hand-hold” private entrepreneurs and mineral industry partners seeking opportunities in mineral-rich countries.

Reddy also added that the government has appointed mineral officers in embassies in all mineral-rich nations to facilitate the country’s push for overseas critical mineral security.

Business Standard had last week reported that a little-known network of Indian and Indian-origin miners had acquired critical mineral assets abroad and were seeking diplomatic support from the government. Indian and Indian-origin miners have acquired exploration rights over critical mineral assets overseas but await stronger institutional engagement from the government to help unlock their potential.

Reddy acknowledged the role of overseas Indian private sector miners in securing strategically important critical minerals. “We need capable companies both in India and overseas to work across the entire value chain,” Reddy said, urging Indian industry to become more active in acquiring and developing mineral assets abroad.

The minister said India has acquired five lithium blocks in Argentina and was in talks with “several other nations” to finalise additional opportunities. “At the same time, we have entered into partnership with several technology-advanced nations like Japan, Peru, UK, the USA, among others,” he added.

Separately, Reddy said 58 companies that had qualified under the government’s incentive scheme for recycling were on track to recover 96 kilotonnes of critical minerals annually. "Under the National Critical Mineral Mission, the Geological Survey of India has taken up 300 critical mineral exploration projects this year alone, and four critical mineral processing parks are being developed with the state governments of Gujarat, Maharashtra, Andhra Pradesh and Odisha," he said.

Jitendra Singh, Minister of Science and Technology, Earth Sciences, Prime Minister’s Office, Personnel, Public Grievances and Pensions, Atomic Energy, and Space, also spoke at the event. He highlighted initiatives such as the National Critical Mineral Mission, the opening of the nuclear sector to private participation and the Rs 1 lakh crore RDI Fund, and urged early industry engagement, advising that potential industry partners be kept on board right from day one of any project.

Singh outlined five priorities, including investment, building domestic capabilities, deeper partnerships, recycling models and a culture of philanthropy for research, and called for partnerships with the highest integrity.