Mains Question:
Q1. The energy transition has picked up momentum, driven by new emerging technologies such as electric vehicle. However, this poses a significant challenge to the metals sector in terms of resource availability. Examine (150 words)
Approach
- Introduction- increased focus on reducing carbon emission
- Increased pressure of resource
- Critical minerals supply and demand challenges
- Lack of availability and increasing demand pressure
- Increasing regionalization of supply chain
- High exploration costs and limited investment
- High production costs
- Geopolitical issues
- Wrap up with way forward
- Effective utilization
- Ensure adequate levels of government support
- Drive cross-country collaboration
- Foster collaboration along the value chain
- Circular economy