23rd July 2024 (9 Topics)
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Coal India bags first critical mineral asset
Context
Recently, the State-owned Coal India has mentioned that it is going to bag the first critical mineral asset, a graphite block, in Madhya Pradesh.
About the move:
- Objective:
- Green energy transitions: Owning a graphite asset will give Coal India an advantage in powering green energy transition momentum to an extent.
- Towards self-reliance: With the electric vehicle market and energy storage systems fast gaining traction, where lithium-ion cells are used, graphite has a big market.
India’s import dependence on Critical Minerals:
- The country imports about 69 percent of its graphite needs - natural, synthetic, and end-use products.
- Graphite has its utility as an anode material in lithium-ion battery manufacturing due to its relatively low cost and energy density.
The Coal India Limited (CIL):
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