Govt working on steps to improve rare earth minerals’ supply: Goyal

These minerals also fuel the growth of rapidly growing clean energy technologies, including electric vehicles and battery manufacturing

- OUR CORRESPONDENT

The government is working on measures to improve supply of rare earth minerals, including negotiating trade pacts with Chile and Peru, promoting domestic exploration, and engaging startups in recycling and processing, Union Commerce and Industry Minister Piyush Goyal said on Friday.

Critical or rare earth minerals such as copper, lithium, nickel, and cobalt are essential raw materials which have applications in various industries ranging from electronic goods to fighter jets.

These minerals also fuel the growth of rapidly growing clean energy technologies, including electric vehicles and battery manufacturing. Countries like Chile, Peru and Australia have reserves of these minerals. India already has implemented a trade pact with Australia and is negotiating with South American nations Chile and Peru. The Indian team is visiting the two South American countries for the next round of trade talks.