New Delhi, 13 NOV 2024 : The Ministry of Mines today signed a Memorandum of Understanding (MoU) with the International Energy Agency (IEA) on cooperation in the area of Critical Minerals.
The present collaboration would provide India with access to reliable data, analysis, and policy recommendations in the critical mineral sector, thereby enhancing its decision-making capabilities and ensuring strategic resource management.
The International Energy Agency (IEA) is an international organization within the framework of the Organization for Economic Co-operation and Development (OECD).
This collaboration would enable India to streamline its policies, regulations, and investment strategies in the critical mineral sector, aligning them with global standards and best practices. By learning from the experiences of other IEA member states and associated countries, India can accelerate its progress towards sustainable and resilient energy systems.
The MoU with the IEA would also facilitate capacity building and knowledge exchange between India and the IEA member states. Collaboration on data collection, modelling, and analysis would enhance India’s technical capabilities and institutional capacity in the critical mineral sector.
Furthermore, the joint research projects, workshops, and training programs carried out under this MoU would help fostering collaboration and innovation in technology development, extraction techniques, and recycling methods for critical minerals.
Approval for the proposal of signing the MoU between IEA and Govt. of India, Ministry of Mines was accorded by the Union Cabinet on 3rd October 2024. The MoU has been signed by Secretary, Ministry of Mines, Shri V. L. Kantha Rao, and Executive Director, IEA Dr. Fatih Birol.
The MoU has been exchanged between Joint Secretary, Ministry of Mines, Shri. Vivek Kumar Bajpai, and Head of Energy Minerals Analysis, Mr. Tae-Yoon Kim, IEA in the august presence of Union Minister of Mines, Shri G. Kishan Reddy and Secretary, Ministry of Mines, Shri V. L. Kantha Rao, at Shastri Bhawan, New Delhi today.
This collaboration marks a significant step towards securing India’s critical mineral resources while aligning with global best practices in the critical mineral sector.
