Ministry of Mines

Demand For Critical Minerals to Increase

Posted On: 21 DEC 2022 3:09PM by PIB Delhi

As per available information, the reserves/resources of minerals are dynamic in nature. Mineral assessment/discoveries is a continuous process and a number of exploration agencies like GSI, MECL, AMDER, State DGM, State/Central Undertakings and private sector companies are engaged in exploration of mineral deposits in the country. As per National Mineral Inventory (NMI), total resources of Copper ore in the country as on 01.04.2020 is estimated about 1661 million tonnes (containing 12197 thousand tonnes of copper metal) which increased from the level about 1511 million tonnes (containing 12158 thousand tonnes of copper metal) as on 01.04.2015.

Demand for critical minerals in India is expected to grow due to increased thrust of Govt. of India towards "make in India" and "Smart City" programme, Atmanirbhar Bharat, 100 GW target for Renewable Energy, PLI schemes for Consumer electronics industry, accelerated growth for electric vehicles etc. and which will drive the demand of critical minerals in the country. Critical minerals are essential to Electric Vehicles technology and its supporting infrastructure, and the increase in the electric vehicles in the market will have a substantial impact on critical minerals demand.

HCL is the only copper miner in India. For the growth of copper mining in India, HCL has executing mine expansion plan to enhance copper ore production from 4 million tonne to 12 million tonne per annum by F.Y 2028-2029. To access latest technology on competitive terms in Copper mining, HCL is adopting State of the art technologies like geophysical exploration method, drone survey, paste fill technology in its underground mines etc.

This information was given by the Minister of Coal, Mines and Parliamentary Affairs Shri Pralhad Joshi in a written reply in Lok Sabha today.

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AKN/ RKP



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