VINACHEM

The IEA and India’s mining ministry this week entered into a memorandum of understanding (MoU) which lays out a co-operation framework on critical minerals, ranging from data and statistics to the sharing of best practices for modelling and analysis.

India is a currently a member of the US-led Minerals Security Partnership, which aims to ensure adequate supplies of minerals needed to meet zero-carbon goals. Last year, Modi’s government identified a total of 30 minerals, including lithium and nickel, as critical for the clean energy transition.

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The MoU was signed on Nov. 13 by IEA Executive Director Fatih Birol and Secretary of the Ministry of Mines Shri V.L. Kantha Rao at a workshop on critical minerals recycling organized by the parties. Also present was India’s Minister for Coal and Mines Kishan Reddy.

The supply and security of critical minerals remains an important topic for policy makers around the world due to increasing demand, volatile price movements, supply chain bottlenecks and geopolitical uncertainties, the IEA stated.

The IEA is placing a strong focus on critical minerals analysis, with the Agency set to release a World Energy Outlook special report this month that addresses the role of critical minerals recycling and business models emerging in areas such as urban mining, the practice of extracting valuable resources from electronic waste and discarded appliances.