Critical mineral hunt overseas: India eyes Zambia and Chile offers; $4 billion push puts critical mission in focus

India has positioned its $4 billion National Critical Mineral Mission on the coronary heart of its power technique, with contemporary emphasis on abroad acquisitions to safe provides of lithium, cobalt and nickel. Union Minister for Coal and Mines G Kishan Reddy stated on Tuesday that state-run Khanij Bidesh India Limited (KABIL) is holding lively negotiations with Zambia, Chile and different nations for brand new belongings after just lately buying lithium blocks in Argentina, PTI reported.Reddy, who was talking on the launch of the sixth tranche of critical mineral block auctions, confused that the surge in demand for electrical car batteries and renewable power by 2030 — anticipated to triple globally — requires India to strengthen each home exploration and worldwide tie-ups.The minister stated New Delhi has additionally entered into memoranda of understanding with Japan, Peru, Australia and the UAE to construct safe provide chains. He famous that India’s $4 billion allocation for its critical minerals programme far outweighs the $1 billion earmarked by the US for a similar sector.To spur home progress, the federal government has launched reforms by the amended MMDR Act 2025, eliminated import duties on 23 critical minerals, and authorized a monetary incentive scheme to scale up recycling capability. Transparent buying and selling has been enabled by newly set-up coal and mineral exchanges, alongside amenities for mining deep-seated reserves.The contemporary public sale spherical launched on Tuesday has put 23 mineral blocks up for bids, with first-time participation from states equivalent to Telangana, Punjab, Uttarakhand and West Bengal.