What’s in the news?

• Ministry of Mines is organising an outreach programme on “Role of the Government and Industry in Driving the Global Action of Critical Minerals” in New Delhi.  
• The event will be attended by Ambassadors/Mission Heads of various countries as well as representatives of businesses in India and other stakeholders.
• As a pivotal member of G20, India has proactively undertaken a series of initiatives aimed at strengthening the supply chain of critical minerals. 
• Ministry of Mines has already made an Amendment in the MMDR Act through which the power to auction of 24 identified Critical Minerals is given to Central Govt. 
• Further to boost exploration, a provision has also been made for a new mineral concession mainly exploration license exclusively for the identified critical minerals including some deep-seated minerals. 
• The financial incentive up to 25% of the approved cost of exploration is provided for critical & strategic minerals. The incentive is provided through NMET (National Mineral Exploration Trust) and public and private sector can avail the incentive on successful discovery of critical minerals. 
• Ministry of Mines is in the process of preparing a Policy for critical minerals which will include a road map for strengthening the supply chain of critical minerals. 
• Ministry of Mine is actively engaging in new partnerships and alliances like Minerals Security Partnership (MSP), the Australia-India Economic Cooperation and Trade Agreement (ECTA).

https://pib.gov.in/PressReleasePage.aspx?PRID=1980159