KSG Podcast - Breakthrough in nuclear fusion | best daily editorial analysis for upsc aspirants
https://www.youtube.com/watch?v=_M4kZIA3Is8
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KSG Podcast - Breakthrough in nuclear fusion | best daily editorial analysis for upsc aspirants
https://www.youtube.com/watch?v=_M4kZIA3Is8&list=PLCUwtp5IghZmJBi1h7xiAhsORKmmumVsR&index=64
#UPSCOnlineClasses #OnlineClassses #IASOnlineclasses

Commercial mining of critical minerals approved
GS Paper - 2 (Polity)

The Union Cabinet approved amendments to the Mines and Minerals (Development and Regulation) Act, 1957, that will pave the way for commercial mining of six critical minerals — lithium, beryllium, niobium, tantalum, titanium and zirconium — and deep-seated minerals like gold, silver and copper.

More about the News

Currently, commercial mining of these critical minerals by private companies is prohibited. Only government agencies were allowed in exploration and mining operations.
These minerals are key components of all modern technologies and go into the making of mobile phones, electric vehicles, solar panels, semiconductors, and wind turbines, among others.
In February this year, the Geological Survey of India discovered a 5.9-million-tonne reserve of lithium in Jammu & Kashmir’s Reasi district.
The amendments, once cleared by Parliament, will also allow the government to grant a single exploration licence to companies through auction.
This is expected to be a big incentive for private companies, especially junior mining companies involved in exploration operations.
This will allow companies a seamless process — from conducting reconnaissance (exploration) and prospecting operations (undertaken for the purpose of exploring, locating or proving the presence of mineral deposit) to finally getting the rights to mine a mineral resource, once it is discovered and the mine is auctioned.
Currently, the MMDR Act grants private companies a mining lease and a composite licence through an auction for conducting exploration and mining.

Flashback

The government is currently giving composite licences in a smaller area (up to 25 square kilometres).
But in the amendments, the ministry has proposed giving an exploration licence for a larger area of up to 5,000 sq km of a single block. The total area with one entity will not exceed 10,000 sq km.
The MMDR Act regulates the mining sector in India and mandates the requirement for granting leases for mining operations. This is the fifth time that the MMDR Act, 1957, will be amended.
India is dependent on China and other countries to meet its requirement of critical minerals including Rare Earth Elements (REE), which are the building blocks of modern-day technologies.

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