African countries are full of natural resources. Africa has about 30 percent of the world’s mineral reserves, about 8 percent of natural gas and 12 percent of global oil reserves. The African continent contains 40 percent of the world’s gold and up to 9 percent of chromium and platinum. The largest reserves of cobalt, diamond, platinum and uranium in the world are in Africa. Half of the total cobalt in the world is present in Congo, an African country. Cobalt is a very important element in lithium ion batteries. In such a situation, India’s eyes are fixed on the countries of the African continent.
eyes on africa
Union Mines Secretary VL Kanta Rao on Friday said India is eyeing Africa for cobalt and other important minerals. Along with this, he said that the country is still in talks with Australia for lithium block. “We are exploring the African countries of Zambia, Namibia, Congo, Ghana and Mozambique for important minerals including lithium and cobalt,” Rao told reporters at an event in New Delhi. Critical minerals have great utility in manufacturing and other industries.
Rules are being prepared
Rao said that rules related to auction of offshore mineral blocks are being prepared. He said 10 offshore blocks would be put up for sale. Along with this, he clarified that the auction of offshore blocks will take place after the general elections. The Mines Secretary said that the result of the first round of auction of important minerals will come in 10 days.
Mineral block auction
The Union Mines Secretary further said that the auction of lithium block in Jammu and Kashmir will now be done in the third tranche as only two bids were received for it. It was put up for sale in the first round. The government has launched the third phase of auction of critical and strategic minerals this month. A total of seven important mineral blocks are being auctioned in this round. Language
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