As the world shifts towards a greener and more sustainable energy future, the demand for critical minerals has surged. These minerals, including lithium, cobalt, and rare earth elements, are essential components of renewable energy technologies such as electric vehicle (EV) batteries, wind turbine and solar panels. India’s initiatives to secure critical minerals for its green energy transition must reflect its determination to achieve its ambitious net-zero emissions goals by 2070.
Through a multi-faceted approach involving diversification, domestic capabilities, recycling, international collaborations and sustainable practices, India needs to lay the foundation for a robust and sustainable supply chain of critical minerals.
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As the world marches towards a greener future, India’s green energy transition mineral procurement strategy will play a pivotal role in ensuring the availability of the essential building blocks of the renewable energy revolution. India’s first step should be to ensure a stable supply chain by diversifying its sources of critical minerals. The country needs to explore partnerships and collaborations with various mineral rich nations to establish a network of reliable suppliers. This approach not only mitigates the risk of supply disruptions but also fosters international cooperation in the renewable energy sector.
To reduce its dependence on imports, India needs also to invest in the development of its domestic mining and processing capabilities.The recent discovery of a 5.9 million ton lithium reserve in Reasi district in Jammu and Kashmir by the Geological Survey of India is encouraging. The country must tap into more of its own mineral reserves, including that of lithium and cobalt, to secure a steady supply. By establishing effi- cient extraction and processing facilities, India could establish a self-sufficient and resilient supply chain for its green energy infrastructure.
Recognising the importance of sustainability, India must promote the recycling of critical minerals from used products like batteries. By implementing circular economy principles, the nation could reduce its reliance on newly mined minerals and minimise environm- ental impact. Recycling not only conserves resources but also curtails the environmental footprint associated with mineral extraction. India must actively consider the option of strategic stockpiling of critical minerals. By creating reserves, the country can ensure a buf- fer against supply disruptions. However, careful plan- ning is required to strike a balance between the stock- pile size and associated costs. In its quest for a secure supply chain, India must forge international collaborations and partnerships.
The nation has joined the Minerals Security Partnership (MSP), a multinational pact aimed at ensuring the availability of critical min- erals. Through such collaborations, India can access a wider pool of resources and expertise, enhancing its ability to navigate the complexities of the mineral market. Investment in research and innovation in alterna- tive materials and technologies that require fewer critical minerals is important. These efforts could not only decrease the overall demand for these minerals but also foster technological advancements in the renewable energy sector. In its pursuit of securing critical min- erals, India needs to implement sustainable mining and processing practices that minimise the negative impact on local communities and ecosystems.