Union Minister of Coal and Petroleum, G. Kishan Reddy, today emphasized the increasing significance of critical minerals in shaping the global economy. He stated that critical minerals form the foundation of emerging sectors such as solar energy, lithium, and copper-based technologies. The Minister made these remarks at the second edition of "Indian Critical Minerals Landscape: Foundation for a Sustainable Future" in New Delhi.
Addressing the inaugural session, he emphasized that the future of the world increasingly depends on the availability and sustainable development of these vital resources. The Minister also informed that 41 private agencies have been given mandates for the exploration of critical minerals, marking a significant step towards strengthening India's resource security.
He further noted that coking coal was added to the list of critical minerals in January this year, highlighting its strategic importance. Mr. Reddy also announced that the technology for manufacturing permanent magnets has been developed, and with its transfer to the private sector, production is now underway.
During the event, the Minister also launched a portal for members of the Federation of Indian Chambers of Commerce and Industry. He also released a report on the Global Critical Mineral Vision and another report highlighting FICCI's collective efforts in the sector.
