29 Apr 2024: PIB Summary for UPSC

1. Mines Ministry Inks MoU with Shakti Sustainable Energy Foundation

Syllabus: GS-3, Economy

Mains: Mines and minerals 

Context:

The Mines Ministry inked an MoU with the Shakti Sustainable Energy Foundation to provide knowledge support in critical minerals.

Details:

• A two-day minerals summit titled ‘Critical Minerals Summit: Enhancing Beneficiation and Processing Capabilities’ commenced in New Delhi.
• The summit has been designed to foster collaboration and innovation in critical minerals beneficiation and processing.
• The summit featured exhibition pavilions showcasing diverse minerals sourced from terrestrial and marine environments, providing attendees with a comprehensive view of the critical minerals landscape.
• At the summit, India’s urgent need for robust exploration and utilisation of critical minerals to support the nation’s rapid economic growth and clean energy aspirations was emphasised.
• On the sidelines of the summit, a Memorandum of Understanding (MoU) was signed between the Ministry of Mines and the Shakti Sustainable Energy Foundation. 
  • This MoU initiates a partnership between the Ministry of Mines, Shakti Sustainable Energy Foundation, Council on Energy, Environment and Water (CEEW) and TERI. 
  • This partnership will focus on providing knowledge support in critical minerals which is crucial for India’s economic development, national security, and low-carbon energy transition.
• The summit also hosted dynamic panel discussions on crucial topics such as building India’s processing and beneficiation capabilities and scaling strategies for domestic and global markets.

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