India signs MoU with IEA for cooperation on critical minerals

15 Nov 2024 CW Team

India’s Ministry of Mines has entered into a Memorandum of Understanding (MoU) with the International Energy Agency (IEA) to boost collaboration in the critical minerals sector, focusing on data sharing, policy recommendations, and resource management. This MoU aims to support India’s strategic decision-making and improve resource management in line with global standards, according to the ministry.

The agreement was signed by V L Kantha Rao, Secretary of the Ministry of Mines, and Dr Fatih Birol, Executive Director of the IEA, an agency under the OECD. The signing ceremony, held at Shastri Bhawan in New Delhi, was attended by Union Minister of Mines G Kishan Reddy.

“This partnership will provide India with reliable data, analysis, and policy insights in the critical minerals sector, helping to streamline policies, regulations, and investment strategies,” the ministry said.

Under the MoU, the Ministry of Mines and IEA will collaborate on capacity building, data collection, modelling, and analysis, with plans for joint research projects, workshops, and training programs. These initiatives will focus on advancing technology, improving extraction techniques, and developing recycling methods for critical minerals.

The Union Cabinet approved the MoU on October 3, 2024. The formal exchange of the document was conducted by Joint Secretary Vivek Kumar Bajpai and Tae-Yoon Kim, Head of Energy Minerals Analysis at the IEA.

The ministry highlighted that the MoU represents a major step toward securing India’s critical mineral resources and aligning national policies with international best practices.

(ET)

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