Union Ministry of Mines Sign MoU with IEA on Critical Minerals
Agreements and MoU
4 min read
The Union Ministry of Mines has signed a Memorandum of Understanding (MoU) with the International Energy Agency (IEA) to collaborate in the field of critical minerals. The MoU was signed in New Delhi on 13 November 2024 by V. L. Kantha Rao, Secretary, Ministry of Mines, on behalf of the Ministry and for the International Energy Agency, was signed by Dr Fatih Birol, Executive Director of the IEA.
Benefits of the MoU
- India will get access to the IEA data, analysis, and policy recommendations in the critical mineral sector.
- It will help improve India’s decision-making capabilities and ensure strategic resource management.
- It will enable India to develop policies, regulations, and investment strategies in the critical mineral sector that comply with global standards and best practices.
- It will also facilitate capacity building and knowledge exchange between India and the IEA member states.
- It will foster collaboration in technology development, extraction techniques, and recycling methods for critical minerals.
What are Critical Minerals?
Critical minerals are those minerals that are considered essential for the economic development and national security of a country.
In 2022, the Union Ministry of Mines constituted a seven-member Committee to define and identify critical minerals in India.
The committee was headed by Veena Kumari Dermal, Joint Secretary in the Ministry of Mines.
The Committee has identified 30 critical minerals: Antimony, Beryllium, Vanadium, Zirconium, Bismuth, Cobalt, Copper, Gallium, Germanium, Graphite, Molybdenum, Niobium, Nickel, PGE, Phosphate, Potash, REE, Rhenium, Hafnium, Indium, Lithium, Silicon, Strontium, Tantalum, Tellurium, Tin, Titanium, Tungsten, Selenium, and Cadmium.
According to the Indian government, the country is currently 100 per cent import-dependent on Lithium, Cobalt, Beryllium, Tantalum, Nickel, and Vanadium. Niobium ,Germanium ,Rhenium , and Strontium.
International Energy Agency (IEA)
The International Energy Agency was founded in 1974 by the OECD(Organisation for Economic Cooperation and Development) in Paris, France.
The IEA helps countries needing expertise in the critical minerals and metals needed to develop clean energy technologies.
India is not an IEA member country, but it is one of the 13 countries with which the IEA shares its expertise on clean energy technology, including energy efficiency.
Headquarters: Paris, France
Members:31 countries
