The Indian government is set to introduce an incentive scheme aimed at bolstering the extraction of critical minerals essential for energy transition technologies. This initiative seeks to reduce India's dependence on imports of minerals like lithium and rare earth elements.
Key Details:
- Funding Allocation: Approximately $50 million will be allocated to support collaborations between research institutes and mining companies to develop extraction technologies and improve beneficiation methods.
- Technical Assistance: The Ministry of Mines has engaged the CSIR-National Institute for Interdisciplinary Science and Technology (NIIST) to provide miners with expertise in extraction techniques tailored to India's mineral deposits.
- Collaborative Proposals: Joint proposals from research institutes and companies will be invited, with approved projects receiving up to 75% of the total funding.
Founder's Background:
This initiative involves several government-backed institutions rather than individual founders. However, key organizations like CSIR-NIIST play a leading role. CSIR-NIIST, part of the Council of Scientific and Industrial Research, has been pivotal in scientific innovation and mineral research in India. The Director of CSIR-NIIST, Dr. A. Ajayaghosh, is a distinguished scientist known for his work in materials chemistry and nanotechnology.
Funding Details:
- Financial Commitment: The government plans to invest nearly $50 million in this initiative.
- Funding Distribution: Approved collaborative projects between research institutes and mining companies will receive up to 75% of their total funding from the government.