1. India has joined the Minerals Security Partnership as a member.
2. India is a resource-rich country in all the 30 critical minerals that (it) has identified.
3. The Parliament in 2023 has amended the Mines and Minerals (Development and Regulation) Act, 1957 empowering the Central Government to exclusively auction mining lease and composite license for certain critical minerals.
Which of the statements given above are correct?
Explanation
Statement 1 is correct: India has become 14th member of the Mineral Security Partnership (MSP) in June 2023. The other member countries are the United States, Australia, Canada, Finland, France, Germany, Italy, Japan, Norway, the Republic of Korea, Sweden, the United Kingdom and the European Commission. MSP seeks to bolster critical minerals supply chains to support economic prosperity and climate objectives.
Statement 2 is incorrect: While India has identified a list of 30 critical minerals vital for its economy (including lithium, cobalt, nickel etc.), it is not resource-rich in all of them. On the contrary, India lacks sufficient domestic reserves for many of these minerals and depends heavily on imports. Only a handful of the 30 (such as copper, gallium, graphite, cadmium) have notable domestic availability. For several critical minerals for example, lithium and cobalt India has little to no indigenous supply and largely import dependent. In summary, India cannot be described as "resource-rich" in all of its identified critical minerals; rather, it has significant supply gaps and is actively seeking foreign sources and partnerships to secure many of these materials.
Statement 3 is correct: In 2023, India’s Parliament passed the Mines and Minerals (Development and Regulation) Amendment Act, 2023, which gave the central government powers to exclusively conduct auctions of mineral concessions for specified critical minerals. This amendment empowers the central government to exclusively auction mining lease and composite licence for certain critical minerals viz. molybdenum, rhenium, tungsten, cadmium, indium, gallium, graphite, vanadium, tellurium, selenium, nickel, cobalt, tin, platinum group of elements, minerals of "rare earth" group (not containing Uranium and Thorium). This amendment also mentions, even though auction would be conducted by the Central Government, the mining lease or composite licence for these minerals to the successful bidders will be granted by the State Government only and the auction premium and other statutory payments shall continue to be received by the State Government.
For S2, "Resource-rich in all 30 critical minerals" is an absolute claim -- this means India must have abundant reserves of every single critical mineral on its list. If that were true, India would likely already be a developed or superpower nation due to immense mineral wealth fueling its economy and technology sectors. Hence most likely false, giving option C as correct.