India Launches 125 Projects for Critical Mineral Exploration
By Rediff Money Desk, NEWDELHI Nov 29, 2023 19:00
India has launched 125 new projects to explore critical minerals, aiming to reduce reliance on imports and support renewable energy, defense, and agriculture sectors.
![India Launches 125 Projects for Critical Mineral Exploration](https://im.rediff.com/money/2023/dec/28minerals.jpg)
Photograph: Steve Marcus/Reuters
New Delhi, Nov 29 (PTI) The government on Wednesday said 125 new projects have been taken up in the current financial year for exploration of critical minerals.
There is high demand for critical and strategic minerals, and the demand is usually met by imports. Critical minerals are used in various sectors, including renewable energy, defence, and agriculture.
"I am happy to announce that this financial year, we have taken up 125 new projects for exploration of critical minerals," Mines Secretary V L Kantha Rao said at an event here.
Further, he said the government is offering an incentive of 25 per cent on discovery of critical minerals by exploration agencies.
Recently, 24 minerals were notified as critical and strategic minerals through an amendment in the mining rule.
India has committed to achieving 50 per cent of cumulative installed electric power capacity from non-fossil sources by 2030.
There is high demand for critical and strategic minerals, and the demand is usually met by imports. Critical minerals are used in various sectors, including renewable energy, defence, and agriculture.
"I am happy to announce that this financial year, we have taken up 125 new projects for exploration of critical minerals," Mines Secretary V L Kantha Rao said at an event here.
Further, he said the government is offering an incentive of 25 per cent on discovery of critical minerals by exploration agencies.
Recently, 24 minerals were notified as critical and strategic minerals through an amendment in the mining rule.
India has committed to achieving 50 per cent of cumulative installed electric power capacity from non-fossil sources by 2030.
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.
You May Like To Read
TODAY'S MOST TRADED COMPANIES
- Company Name
- Price
- Volume
- GTL Infrastructure
- 2.93 ( -4.87)
- 226206286
- IFL Enterprises
- 1.30 (+ 4.84)
- 81461564
- Vodafone Idea L
- 16.79 (+ 0.66)
- 67447398
- NCL Research
- 0.95 ( -4.04)
- 31996628
- Franklin Industries
- 3.73 (+ 3.32)
- 21511209
MORE NEWS
![Sensex, Nifty Hit...](https://im.rediff.com/80-80/money/2017/mar/16bse4.jpg)
Sensex, Nifty Hit Record Highs for 3rd Day |...
Indian stock markets closed at new highs on Tuesday, driven by gains in FMCG, telecom,...
![India's Gems...](https://im.rediff.com/80-80/money/2023/jan/27jewelry.jpg)
India's Gems & Jewelry Exports Decline...
India's gems and jewellery exports dropped 13.44% in June to Rs 15,939.77 crore,...
![Paytm Shares...](https://im.rediff.com/80-80/money/2021/jul/02paytm.jpg)
Paytm Shares Decline After Sebi Warning
Paytm parent firm One 97 Communications shares fell over 2% after receiving an...