The story so far: On August 2, Parliament passed the Mines and Minerals (Development and Regulation) Amendment Bill, 2023, in a bid to attract private sector investment in the exploration of critical and deep-seated minerals in the country. The Bill puts six minerals, including lithium — used in electric vehicle batteries and other energy storage solutions — into a list of “critical and strategic” minerals. The exploration and mining of these six minerals, previously classified as atomic minerals, were restricted to government-owned entities.
How much of its critical and deep-seated minerals does India import?
The Russian invasion of Ukraine over the past year has made it clear more than ever how global supply chains of a range of commodities are vulnerable to shocks leading to a lack of availability and skyrocketing prices.
