17 February 2025: PIB Summary For UPSC

1. India and Sri Lanka Strengthen Ties in Critical Minerals, Exploration, and Mining

(Source – https://pib.gov.in/PressReleasePage.aspx?PRID=2103502 )

Bilateral Cooperation on Mineral Resources

• The focus was on fostering bilateral cooperation in mineral exploration and mining to secure critical minerals essential for economic and industrial growth.

Key Mineral Resources Discussed

• Sri Lanka’s vast graphite and beach sand mineral resources were highlighted for their importance in clean energy, advanced battery technologies, and high-tech industries.

India’s National Critical Mineral Mission

• India’s National Critical Mineral Mission aims to secure a steady supply of raw materials like lithium, graphite, nickel, cobalt, and copper for renewable energy.
• The mission encourages Indian companies to acquire mineral assets globally and explore international partnerships.

Geological Survey and Investment Opportunities

• Both countries discussed government-to-government mineral exploration opportunities.
• The Geological Survey of India showed interest in conducting mineral assessments in Sri Lanka.

Future Collaboration

• Discussions were held to finalize a Memorandum of Understanding (MoU) on “Cooperation in the Field of Geology and Mineral Resources”.
• The MoU will focus on capacity building, technological exchange, and modernizing Sri Lanka’s mining industry.

Conclusion

• Both nations agreed to accelerate efforts to formalize agreements and explore new cooperation avenues in the mineral sector.