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.
#upsc #news #union #commercialmining #criticalminerals #technologies #mmdr #geologicalsurvey #exploration #earth #elements #india #dependent
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.
#upsc #news #union #commercialmining #criticalminerals #technologies #mmdr #geologicalsurvey #exploration #earth #elements #india #dependent
Today's Headlines - 08 September 2023
G20 agrees to give African Union membership
GS Paper - 2 (International Relations)
Group of 20 nations agreed to grant the African Union permanent membership status, and leaders are expected to announce the decision during a summit in India. The move would give the 55-member African Union, which is currently classified as an “invited international organization,” the same status as the EU. It’s part of a drive to provide African countries with a stronger voice on global issues such as climate change and emerging-market debt, particularly as emerging markets in the so-called Global South take on a more prominent role in world affairs.
More about the News
Prime Minister Narendra Modi, who is hosting the G20 summit, has made it a priority to grant the African Union full membership.
Countries like Germany, Brazil, and Canada have also expressed their support for African Union membership to the G20.
The G20 or Group of 20 is an intergovernmental forum of the world's major developed and developing economies.
The members represent around 85% of global GDP, over 75% of global trade, and about two-thirds of the world population.
The European Union is keen to take some credit for the G20 step. Leaders from the bloc plan to hold a high-level meeting with African leaders on the sidelines of the summit, which is being skipped by Chinese President Xi Jinping and Russian leader Vladimir Putin.
Dubbed a “mini-summit,” the Europe-Africa meeting will include a discussion of the consequences of Russia’s war against Ukraine on global food security — a situation that threatens to escalate after Putin refused to revive a UN-backed deal to allow grain shipments after talks with Turkish President Recep Tayyip Erdogan.
Other topics include efforts to reform the global financial architecture, improving conditions for private investments and infrastructure projects in Africa, as well as the situation in the Sahel region.
Flashback
The African Union (AU) is a continental body consisting of the 55 member states that make up the countries of the African Continent.
It was officially launched in 2002 as a successor to the Organisation of African Unity (OAU, 1963-1999).
#upsc #news #headline #G20 #African #union #membership #internationalrelations #20nations #leaders #climatechange #market #organization #global #south #news #primeminister #NarenderaModi #G20Summit #germany #brazil #canada #intergovermentalforum #GDP #world #population #european #vladimirputin #projects #AU #55members #unity
G20 agrees to give African Union membership
GS Paper - 2 (International Relations)
Group of 20 nations agreed to grant the African Union permanent membership status, and leaders are expected to announce the decision during a summit in India. The move would give the 55-member African Union, which is currently classified as an “invited international organization,” the same status as the EU. It’s part of a drive to provide African countries with a stronger voice on global issues such as climate change and emerging-market debt, particularly as emerging markets in the so-called Global South take on a more prominent role in world affairs.
More about the News
Prime Minister Narendra Modi, who is hosting the G20 summit, has made it a priority to grant the African Union full membership.
Countries like Germany, Brazil, and Canada have also expressed their support for African Union membership to the G20.
The G20 or Group of 20 is an intergovernmental forum of the world's major developed and developing economies.
The members represent around 85% of global GDP, over 75% of global trade, and about two-thirds of the world population.
The European Union is keen to take some credit for the G20 step. Leaders from the bloc plan to hold a high-level meeting with African leaders on the sidelines of the summit, which is being skipped by Chinese President Xi Jinping and Russian leader Vladimir Putin.
Dubbed a “mini-summit,” the Europe-Africa meeting will include a discussion of the consequences of Russia’s war against Ukraine on global food security — a situation that threatens to escalate after Putin refused to revive a UN-backed deal to allow grain shipments after talks with Turkish President Recep Tayyip Erdogan.
Other topics include efforts to reform the global financial architecture, improving conditions for private investments and infrastructure projects in Africa, as well as the situation in the Sahel region.
Flashback
The African Union (AU) is a continental body consisting of the 55 member states that make up the countries of the African Continent.
It was officially launched in 2002 as a successor to the Organisation of African Unity (OAU, 1963-1999).
#upsc #news #headline #G20 #African #union #membership #internationalrelations #20nations #leaders #climatechange #market #organization #global #south #news #primeminister #NarenderaModi #G20Summit #germany #brazil #canada #intergovermentalforum #GDP #world #population #european #vladimirputin #projects #AU #55members #unity