Greater Noida: India’s National Mineral Development Corporation (NMDC) is looking to acquire critical mineral assets in the overseas markets to secure country’s future needs, sources said.
Critical minerals are essential for economic development and national security but have a high risk of supply disruption. Some key critical minerals include: Lithium, Cobalt, Nickel, Rare Earth Elements (REEs), Graphite, Copper. These minerals are concentrated in very few countries and used in modern technologies. The future technological race depends on these minerals.
Why Are Critical Minerals Important for India?
Energy Transition & Electric Vehicles
- We are moving towards Electric Vehicles and Lithium, cobalt, and nickel are essential for EV batteries.
- Solar panels, wind turbines, and battery storage systems require rare earths and copper.
- India aims to achieve net-zero emissions by 2070, making these minerals central to policy planning.
Defence & Strategic Security
- Used in missiles, fighter aircraft, radars, and advanced electronics.
- Essential for semiconductor manufacturing and communication systems.
- Reduces dependence on imports for strategic technologies.
