There may be excessive demand for essential and strategic minerals. (Representational)
New Delhi:
The federal government on Wednesday mentioned 125 new initiatives have been taken up within the present monetary yr for exploration of essential minerals.
There may be excessive demand for essential and strategic minerals, and the demand is normally met by imports. Crucial minerals are utilized in numerous sectors, together with renewable power, defence, and agriculture.
“I’m joyful to announce that this monetary yr, we’ve got taken up 125 new initiatives for exploration of essential minerals,” Mines Secretary VL Kantha Rao mentioned at an occasion in New Delhi.
Additional, he mentioned the federal government is providing an incentive of 25 per cent on discovery of essential minerals by exploration companies.
Not too long ago, 24 minerals have been notified as essential and strategic minerals by way of an modification within the mining rule.
India has dedicated to reaching 50 per cent of cumulative put in electrical energy capability from non-fossil sources by 2030.
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