IDEAS home Printed from https://ideas.repec.org/a/spr/minecn/v32y2019i3d10.1007_s13563-019-00189-0.html
   My bibliography  Save this article

Strategic minerals in India: present status and future challenges

Author

Listed:
  • Kirtikumar Randive

    (RTM Nagpur University)

  • Sanjeevani Jawadand

    (RTM Nagpur University)

Abstract

Strategic minerals have a substantial role to play in the development and security of the nation and play a critical role in the development of the national economy. The paucity of strategic minerals in India has been a serious concern for the last several decades. Growing global demand, high value, declining production and constant pressure for finding new mineral deposits captivate not only India’s but also the world’s outlook towards strategically important minerals. At present, India is having resources worth 87.39 million tonnes of tungsten, 24.63 million tonnes of vanadium, 189 million tonnes of Nickel, and 25.50 thousand tonnes of REE’s, but these reserves are almost negligible as per National Mineral Inventory (NMI) (01.04.2015). Hence, India is highly dependent on imports for the supply of strategic minerals. It is a major area of concern for India, since regular supply from foreign countries may be interrupted for obvious reasons such as changing the geopolitical situation or the foreign mineral producers forming cartels to dictate the prices. Hence, in the present geopolitical scenario, India needs to focus on adopting superior technology for recycling, exploring substitutes, retain and modernize the stockpiling of strategic materials, and encourage research and development in this area. Also, the supply of these minerals should be secured through the strategic acquisition of overseas mines by forming diplomatic ties and trade agreements. In this paper, an attempt has been made to discuss the present status, consumption, import, and respective substitutes in the context of current Indian economy.

Suggested Citation

  • Kirtikumar Randive & Sanjeevani Jawadand, 2019. "Strategic minerals in India: present status and future challenges," Mineral Economics, Springer;Raw Materials Group (RMG);Luleå University of Technology, vol. 32(3), pages 337-352, November.
  • Handle: RePEc:spr:minecn:v:32:y:2019:i:3:d:10.1007_s13563-019-00189-0
    DOI: 10.1007/s13563-019-00189-0
    as

    Download full text from publisher

    File URL: http://link.springer.com/10.1007/s13563-019-00189-0
    File Function: Abstract
    Download Restriction: Access to the full text of the articles in this series is restricted.

    File URL: https://libkey.io/10.1007/s13563-019-00189-0?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:spr:minecn:v:32:y:2019:i:3:d:10.1007_s13563-019-00189-0. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: . General contact details of provider: http://www.springer.com .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.