This plan would involve the leading public sector companies (PSUs)—like Coal India, NMDC, and ONGC Videsh Ltd (OVL)—actively searching for critical mineral assets on a global scale. PSUs Go Abroad: The Quest Continueshttps://images.indianexpress.com/2024/02/Mining-2col.jpg?w=640This specialized committee is expected to set up Coal India, NMDC, and OVL in the direction of overseas exploration of critical minerals. This will be of great use when coming up with favorable arrangements or negotiating through the complexities associated with international mineral exploration. These initiatives underscore the cooperative efforts of Indian PSUs to ensure access to strategic minerals as well as reduce supply risks going forward. There is an effort underway to extend the scope of current Free Trade Agreements (FTAs) to include critical minerals trade.

Source: Indian Express May 22, 2024 06:22 UTC