Eye on ‘net zero’, India makes big push to secure critical minerals

As the world rushes to secure minerals critical for rapidly-expanding clean energy technologies, India is joining the fray to try to meet its ambitious green energy goals.

India said in January the government and state mining companies would spend 343 billion Indian rupee ($3.94 billion) to boost local production, recycling and imports of critical minerals in a bid to secure enough for its energy transition, in an initiative coined the “National Critical Mineral Mission”.

While India produces some of the copper and graphite it uses at home, it fully imports several critical minerals used in green technologies including lithium, cobalt and nickel.

The government has also mapped out new reserves for critical minerals, but there tends to be a lengthy time-lag between the discovery of new reserves and when mining can start.

India’s push is part of a global race for minerals needed for renewable technologies, which is likely to ramp up this year, with demand for “net zero” minerals set to almost triple by 2030, according to the International Energy Agency.

Here is what you know about India’s critical minerals ambition:

Why are critical minerals important for India?

India aims to achieve net-zero greenhouse gas emissions by 2070. To meet this goal, demand for copper and nickel is expected to grow rapidly, said the Centre for Social and Economic...

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