India to leverage US-led partnership to get critical mineral assets from abroad

• The Union Mines Ministry has proposed to circulate critical mineral block proposals.

Key Highlights

• It was received by partner countries in the US-led Minerals Security Partnership (MSP) with central public sector undertakings or PSUs
  • To allow them to acquire critical mineral assets abroad.
• The ministry has also recommended that PSUs give a clear financial mandate to relevant subsidiaries to expedite the acquisition process
• The MSP is a US-led collaborative effort involving thirteen countries including the UK, Australia, France, and Germany, and the European Union
  • Which aims to catalyse public and private investment in critical mineral supply chains globally.
• The collaboration is currently engaged in fostering a critical minerals and metals cooperation forum for
  • The sharing of expertise
  • Building a robust battery materials supply chain
  • Jointly developing a minerals processing facility in South America.
• KABIL is a central public sector enterprise (CPSE) under the mines ministry
  • which on January 15 signed an agreement with a state-owned company in Argentina to explore and develop five lithium blocks in the South American country.
• NTPC is looking at acquiring lithium, cobalt, graphite, and high-purity limestone assets abroad through its subsidiary NTPC Mining Limited.

Prelims Takeaway

• Critical mineral
• KABIL