India Eyes Strategic Leap in Critical Mineral Exploration

IMFA's Subhrakant Panda advocates bolstering India's critical mineral exploration amid China's dominance. India aims to reduce dependence through ventures, exploration, and partnerships. Government initiatives support the sector, while IMFA plans to expand production and target auctions. Panda emphasizes global collaboration for future growth in India's metals and minerals industry.

India is eyeing a strategic enhancement in its critical mineral exploration sector, seeking to lessen its reliance on global powers like China. Subhrakant Panda, Managing Director of Indian Metals & Ferro Alloys Ltd (IMFA), emphasized the importance of advancing domestic exploration capabilities in a recent interview with ANI.

As China holds a substantial share of the rare earth and critical mineral market, particularly in processing capacities, Panda highlighted the necessity for India to ramp up its efforts. The country's strategy includes collaboration with nations rich in these resources and encouraging joint ventures to secure supply chains.

The Indian government has launched initiatives like the National Critical Mineral Mission to foster self-reliance. IMFA is poised to participate in upcoming mineral block auctions and plans to increase production. Panda reaffirms the need for private-public partnerships to bolster India's presence in the global mineral sector while maintaining active engagement in international trade.

(With inputs from agencies.)