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The Ministry of Mines has initiated bilateral meetings with Russia to secure critical mineral processing technology. This initiative aims to secure advanced technologies essential for the extraction and processing of critical minerals vital for various high-tech, automotive, and defence applications.
This collaboration is part of a larger plan to encourage investment in the mining and metal sectors and promote mineral exploration cooperation. “The first round of consultations was held earlier this month. We are seeking Russian technology and their collaboration in exploring and mining minerals in India,” an official said.
The partnership is being formed at a moment when India is stepping up its attempts to become self-sufficient in the mining industry, especially with regard to critical minerals. India will need advanced exploration methods similar to those employed by Russian companies to find new mineral treasures, even though significant amounts of foreign funding will be needed to utilise the reserves, according to sources.
This collaboration can potentially find large mineral resources within India, strengthening its resource base and lowering its reliance on imports for essential minerals.
Russia is home to several leading mining companies, including Norilsk Nickel (Nornickel), which is the world’s largest producer of nickel and palladium, and Alrosa, which dominates as the world’s largest diamond mining company. Other notable companies include Severstal, a major steel and mining firm, and SUEK (Siberian Coal Energy Company), Russia’s largest coal supplier and one of the largest coal producers globally.
India is inviting Russian expertise to its mining projects, opening the doors for foreign investment. This influx of capital can drive innovation, boost production, and create numerous job opportunities in the sector.
The mining partnership with Russia has major implications for India’s foreign policy push to secure newer sources of energy and minerals. In return for the mining technologies, Russia is keen on attracting Indian investments in its resource-rich Far Eastern region, comprising vast swathes of Siberia, officials at the Ministry of External Affairs said.
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