125 projects taken up for exploration of critical minerals, says minister

There is a high demand for critical and strategic minerals. (representative)

New Delhi:

The government said on Wednesday that 125 new projects have been taken up in the current financial year for exploration of critical minerals.

There is a 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, defense and agriculture.

“I am happy to announce that in this financial year we have taken up 125 new projects for exploration of critical minerals,” said Mines Minister VL Kantha Rao at an event in New Delhi.

Further, he said the government is offering an incentive of 25 percent on discovery of critical minerals by exploration agencies.

Recently, 24 minerals were notified as critical and strategic minerals through an amendment to the mining rule.

India has committed to achieve 50 percent of cumulative installed electrical power capacity from non-fossil sources by 2030.

(With the exception of the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

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