Hindu Editorial Analysis : 18-August-2023
In the modern world, critical minerals have emerged as the foundational components of cutting-edge technologies, essential for the functioning of our digital age. These minerals, which include graphite, lithium, cobalt, rare earths, and silicon, have become the bedrock of various technologies such as mobile phones, electric vehicles, solar panels, and more. Recognizing their significance, countries are formulating strategies to ensure their responsible exploitation, management, and regulation. This essay delves into the context of critical minerals, the policies adopted by various nations, and the challenges and potential solutions associated with them.
Critical Minerals Unveiled
Critical minerals are elemental cornerstones vital for contemporary technologies and prone to supply chain interruptions. They span an array of applications, from the production of EV batteries using graphite, lithium, and cobalt, to the deployment of rare earths in magnets and silicon’s role in computer chips and solar panels. These minerals are the lifeblood of industries like aerospace, communication, and defense, supporting the development of pivotal equipment such as fighter jets, drones, and radio sets.
African Riches and Export Restrictions
Africa’s abundant resources of critical minerals, including cobalt, lithium, and copper, have captured global attention as the demand for these resources escalates. However, hindered by inadequate governance structures and policy constraints, the continent has faced challenges in extracting these vital elements. In response, countries like Ghana, Namibia, and Zimbabwe have enacted export bans on raw minerals to prevent the loss of substantial revenue and value addition. Ghana’s recent policy, for instance, restricts the export of critical minerals like lithium, iron, and bauxite in their raw state, aiming to enhance the nation’s economic gains.
China’s Role and Continental Strategy
China’s substantial investments in Africa’s mining and mineral sectors have positioned it as a significant player on the continent. Against this backdrop, Africa’s drive to retain a fair share of profits from “green minerals” aligns with a continental strategy to ensure equitable economic benefits. As nations, particularly China, intensify their engagement with Africa, export restrictions contribute to realizing a more balanced distribution of returns.
India’s Imperatives and Challenges
In India, a roster of 22 critical minerals, including antimony, cobalt, lithium, and nickel, has been identified. These elements are indispensable for green technologies, advanced equipment, aviation, and national defense. While India possesses significant geological potential, it grapples with scarce domestic reserves of minerals necessary for renewable energy technologies and electric vehicles. The reliance on foreign partners to bridge this supply-demand gap presents a challenge.
Pathways for Progress
To address the critical minerals conundrum, India needs a multi-pronged approach:
- New List of Critical Minerals: The Mines and Minerals (Development and Regulation) Act should be updated to include a comprehensive list of critical and strategic minerals. This new list should encompass elements such as molybdenum, tungsten, vanadium, and others vital for the country’s development.
- Promoting Exploration: Encouraging the exploration of deep-seated minerals is imperative. Collaborative efforts involving government entities, junior miners, and major corporations can unearth new sources.
- Sustainable Processing: Strategizing the processing and assembly of minerals into advanced equipment demands attention. Careful consideration is needed to ensure that these processes align with environmental and economic sustainability goals.
- Supply Chain Security: India must actively engage in bilateral and plurilateral agreements to build resilient critical mineral supply chains, ensuring stable access even during global disruptions.
- Regular Assessment: Periodic evaluations of critical mineral requirements are essential to stay abreast of changing domestic and global dynamics.
Why In News
Recently, Ghana took a significant stride by approving a new comprehensive policy aimed at the responsible exploitation, efficient management, and effective regulation of its abundant lithium and other valuable green minerals. This forward-thinking approach not only demonstrates Ghana’s commitment to sustainable resource utilization but also positions the country to play a pivotal role in the global transition towards cleaner and greener technologies.
MCQs about Navigating Critical Minerals
-
Which factor has hindered the extraction of Africa’s critical minerals?
A. Abundant domestic governance structures
B. Strong policy support for mineral extraction
C. Weak domestic governance structures and policy impediments
D. Overwhelming availability of critical minerals
-
What is the purpose of identifying critical minerals in India?
A. To encourage the import of critical minerals
B. To prioritize the extraction of non-essential minerals
C. To promote unrestricted global trade of these minerals
D. To prioritize the exploitation and sustainable management of essential minerals
-
What is the recommended approach for India to achieve self-reliance in critical minerals?
A. Rely solely on imports to meet domestic needs
B. Continue the current policy without any changes
C. Develop a comprehensive strategy, including exploration, processing, and supply chain security
D. Abandon the pursuit of self-reliance in favor of international partnerships
Boost up your confidence by appearing our Weekly Current Affairs Multiple Choice Questions
