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					</table><p>The government introduced a Bill in the <a href="https://sansad.in/ls" target="_blank" rel="noopener">Lok Sabha</a> to amend the Mines and Minerals (Development and Regulation) Act to allow the private sector to explore and mine critical minerals used in the energy sector.</p>
<p>The proposed legislation seeks to introduce an exploration license for critical and deep-seated minerals. It plans to remove six atomic minerals, such as lithium, titanium, and zirconium-bearing minerals, from the list of reserved minerals. These minerals play vital roles in space industries, electronics, communications, energy sectors, and electric batteries, making them crucial for India&#8217;s net-zero emission commitment.</p>
<p>By opening exploration and mining of these minerals to the private sector, the Bill aims to stimulate heightened production and utilization in various industries.</p>
<p>The amendments come when the government is set to <a href="https://www.mercomindia.com/government-to-lithium-reserves-found-in-jk-in-december" target="_blank" rel="noopener">auction</a> the 5.9 million tons of lithium reserves found in Jammu and Kashmir&#8217;s Reasi district last December.</p>
<p>The license will be granted through auction, allowing the licensee to undertake survey and prospecting operations. The explored blocks will then be auctioned for mining leases, providing better revenue to state governments and encouraging private sector participation in mineral exploration.</p>
<p>To ensure transparency and efficiency, the government will conduct auctions through competitive bidding, including e-auction, for granting mining leases or composite licenses.</p>
<p>Holders of exploration licenses will be entitled to a share of the applicable amount quoted in the auction of mining leases payable by lessees to the state government, applicable only to minerals specified in the seventh schedule.</p>
<p>The Bill imposes area restrictions for exploration licenses, limiting the total area covered under a single license to one thousand square kilometers and restricting the total area covered under one or more exploration licenses to five thousand square kilometers.</p>
<p>Exploration license holders must submit geological reports to the state government within three months of completing reconnaissance and prospecting operations.</p>
<p>The Bill clarifies the rights and liabilities of holders of mineral concessions, guiding the extension of licenses and retention of exploration areas. It seeks to streamline the mining sector, attract investments, and promote sustainable mineral exploration.</p>
<p>The Geological Survey of India <a href="https://www.mercomindia.com/large-lithium-discovered-in-rajasthan-gsi-officials" target="_blank" rel="noopener">announced</a> the discovery of lithium reserves in Rajasthan earlier this year.</p>


Government Pilots Bill to Allow Private Sector to Mine Critical Minerals


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					</table><p>The <a href="https://www.australia.gov.au/" target="_blank" rel="noopener">Australian government</a> aims to increase the share of electric vehicles (EV) in new light vehicle sales to 30% by 2030 and 100% by 2035 to transition to a decarbonized transport system.</p>
<p>According to the first National Electric Vehicle Strategy, increasing EV share in the transport system would reduce transport emissions by 52 Mt CO2-e in 2030 and 173 Mt CO2-e in 2050. It would also save consumers billions in fuel and maintenance costs by 2050. The strategy is aligned with Australia&#8217;s commitments under the Paris Agreement and the Net Zero Emissions by 2050 plan.</p>
<p>The transport sector accounts for 19% of Australia&#8217;s emissions, with passenger cars and light commercial vehicles alone contributing 60%.</p>
<p>Australia is among the global leaders in producing raw materials and critical minerals essential for EV battery manufacturing. The country boasts the largest economic reserve of nickel and the world&#8217;s largest production of bauxite and lithium. It also ranks among the top four producers of rare earth metals, cobalt, and manganese and has a significant graphite reserve.</p>
<p>One of the key initiatives to increase the supply of EVs is the development of Australia&#8217;s first Fuel Efficiency Standard for new light vehicles. This standard will encourage manufacturers to produce more fuel-efficient vehicles, including electric and hybrid models, which will help to reduce emissions and improve air quality.</p>
<p>Another important initiative is preparing a recycling, reuse, and stewardship initiative for EVs and other large-format batteries. This will help to ensure that EVs are disposed of in an environmentally responsible manner and that the valuable materials contained within the batteries can be recovered and reused.</p>
<p>The government is establishing a range of incentives and commitments to encourage demand for EVs, including state and territory EV fleet targets, incentives, and commitments.</p>
<p>For example, the Queensland government has set a target for 50% of new passenger vehicle sales to be zero emissions by 2030 and 100% by 2036.</p>
<p>The government is also working to establish a net-zero Australian Public Service by 2030, including a target of 75% low emissions vehicles for Commonwealth fleet new passenger vehicle purchases and leases by 2025.</p>
<p>To support the infrastructure needed for the widespread adoption of EVs, the government is working to establish a national network of EV chargers on major highways, with an average interval of 150 km.</p>
<p>The government is also investing in initiatives to support the training and development of skills needed to support EV uptake, including the New Energy Apprenticeships and New Energy Skills Program. This will help to ensure a skilled workforce capable of supporting the EV industry.</p>
<p>A think tank Climate Energy Finance report <a href="https://www.mercomindia.com/australia-can-rival-china-for-renewables-sector" target="_blank" rel="noopener">said</a> Australia could become a potential supply chain partner for the global renewables sector and an alternative to China due to its abundance of rare earth minerals.</p>
<p>A <a href="https://mercomindia.com/ev-battery-supply-chains-stressed/" target="_blank" rel="noopener">report</a> by the International Energy Agency suggested that robust mining and drilling measures will help the EV sector fulfill its metal needs to boost the transport electrification drive.</p>


Australia Targets All New Light Vehicle Sales to be EVs by 2035


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					</table><p>Close on the heels of a similar agreement with the European Union, the United States and Japan have agreed on a trade deal for critical minerals used in clean energy technologies.</p>
<p>The agreement is intended to help Japan meet sourcing requirements for new electric vehicle (EV) subsidies in the U.S. and reduce reliance on China for strategic resources.</p>
<p>The agreement includes refraining from imposing export duties on key rare earth minerals like lithium, cobalt, manganese, nickel, and graphite and sharing information on potential labor violations in the supply chain.</p>
<p>&#8220;Today&#8217;s announcement is proof of President Biden&#8217;s commitment to building resilient and secure supply chains,&#8221;<strong> </strong>said Ambassador Katherine Tai.<strong> </strong> &#8220;Japan is one of our most valued trading partners and this agreement will enable us to deepen our existing bilateral relationship.  This is a welcome moment as the United States continues to work with our allies and partners to strengthen supply chains for critical minerals, including through the Inflation Reduction Act.&#8221;</p>
<p>Earlier this month, the U.S. and EU <u><a href="https://www.mercomindia.com/us-eu-agreement-sourcing-minerals-ev-batteries" target="_blank" rel="noopener">agreed</a></u> on immediately beginning negotiations on a deal on critical minerals used in the EV battery supply chain. The EU had earlier criticized the Inflation Reduction Act (IRA) as protectionist.</p>
<p>The U.S.-Japan agreement also aims to address non-market policies and practices of other countries affecting trade in critical minerals and practices regarding reviewing investments in the minerals sector by foreign entities.</p>
<p>The Biden administration is exploring minerals-focused trade deals to grant access to trusted allies to the $7,500 per vehicle EV tax credits established in IRA.</p>
<p>Under the current rules, half of the tax credit for purchasing consumers is reserved for North American-assembled vehicles and batteries. This provision has created significant tension with the European Union, Japan, and South Korea, who fear that their car and battery manufacturers will become uncompetitive.</p>
<p>The other half of the tax credit depends on the critical minerals used in the battery&#8217;s production. Specifically, at least 40% of the critical mineral value in the battery must have been extracted or processed in the U.S. or a country with a U.S. free trade agreement or recycled in North America.</p>


US, Japan Strike Trade Deal on Critical Minerals for EV Batteries


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					</table><p>Australia can become a potential supply chain partner for the global renewables sector and an alternative to China, a report by think tank Climate Energy Finance (<u><a href="https://climateenergyfinance.org/" target="_blank" rel="noopener">CEF</a></u>) has said.</p>
<p>Australia houses minerals critical to renewable energy technologies in abundance and is the leading producer of unprocessed lithium. The country produces 79% of the world’s hard rock lithium, with its mineral exports projected to reach $16 billion in 2023.</p>
<p>The country is the third largest exporter of cobalt and stands fourth in exporting mined copper, nickel, and rare earths.</p>
<p>Despite the massive critical mineral availability with one of the largest bulk minerals mining industries, Australia lags in adding domestic value to the energy transition materials sector, states the report.</p>
<p>But currently, Australia is pursuing the zero value-add dig-and-ship model under which most mineral excavated by the companies like Rio Tinto, BHP, and Woodside is exported to China for refining onshore.</p>
<p>China then uses these minerals in the supplies of its dominant downstream battery and electric vehicle manufacturing industries.</p>
<div id="attachment_50239" style="width: 612px" class="wp-caption aligncenter"><img loading="lazy" decoding="async" aria-describedby="caption-attachment-50239" class="wp-image-50239 size-full" src="https://mercomindia.com/wp-content/uploads/2023/03/Picture1-3.png" alt="" width="602" height="417" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/03/Picture1-3.png 602w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/03/Picture1-3-300x208.png 300w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/03/Picture1-3-600x416.png 600w" sizes="(max-width: 602px) 100vw, 602px" /><p id="caption-attachment-50239" class="wp-caption-text">Figure 1: Australian Lithium Concentrate Exports to China as Share of Total Exports. Source: Australian Bureau of Statistics 2022</p></div>
<p>The World Bank Group has <a href="https://mercomindia.com/mineral-demand-soar-renewable-world-bank/" target="_blank" rel="noopener">projected</a> that the demand for key minerals used in clean energy technology is likely to grow almost 500% by 2050 to meet growing demand.</p>
<p>CEF estimates that the total investments in the global energy sector will increase up to $100 trillion by 2050.</p>
<p><strong>China’s roots in mineral-rich markets</strong></p>
<p>China has accelerated its steps to expand its reach in Australian lithium mines through partnerships and acquisitions.</p>
<p>For instance, Australia produced its first commercial battery-grade refined lithium hydroxide monohydrate (LHM) which is the precursor for battery cathodes, in 2022.</p>
<p>The country houses two prominent lithium mines, one being the lithium hydroxide mine being built at Kwinana, and the second mine in the Greenbushes lithium mine, both in Western Australia, which is the world’s largest lithium mine.</p>
<p>China’s Tianqi Lithium Corporation owns a 51% stake in Tianqi Lithium Energy Australia, a joint venture by that in turn owns a 51% stake in the Greenbushes mine. Tianqi also owns a controlling 51% stake in LHM mine which is Australia’s first onshore refinery of lithium hydroxide.</p>
<p>The report further highlights that Australia is currently building two more LHM refineries. For one of the additional refineries upcoming at Kwinana, Australia entered a 50:50 joint venture between ASX-listed Wesfarmers and SQM of Chile.</p>
<div id="attachment_50240" style="width: 612px" class="wp-caption aligncenter"><img loading="lazy" decoding="async" aria-describedby="caption-attachment-50240" class="wp-image-50240 size-full" src="https://mercomindia.com/wp-content/uploads/2023/03/Picture2-1.png" alt="" width="602" height="417" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/03/Picture2-1.png 602w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/03/Picture2-1-300x208.png 300w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/03/Picture2-1-600x416.png 600w" sizes="(max-width: 602px) 100vw, 602px" /><p id="caption-attachment-50240" class="wp-caption-text">Figure 2: World and Australian Lithium Hydroxide Monohydrate. Source: BloombergNEF</p></div>
<p>In 2018, China’s Tianqi also acquired a 24% strategic stake in SQM for $4 billion.</p>
<p><strong>Australia needs an IRA-like initiative</strong></p>
<p>CFE recommends that Australia needs to implement strong policy agendas like the Inflation Reduction Act in the United States and the REPowerEU Plan in the European Union, to endorse proposals of strategic national interest around the export and critical mineral mines.</p>
<p>Australia must scale its trade relations with the U.S., Japan, South Korea, India, Singapore, and the EU to further improvise on joint ventured development projects which would help cut Scope 3 carbon emissions globally.</p>
<p>A <a href="https://mercomindia.com/ev-battery-supply-chains-stressed/" target="_blank" rel="noopener">report</a> by the International Energy Agency last year suggested that robust mining and drilling measures will help the EV sector fulfill its metal needs to boost the transport electrification drive. The agency said China has been assigned 70% of battery production capacity until the end of the decade.</p>


Australia can Rival China in Supplying Critical Minerals for Renewables Sector


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					</table><p>Experts at the U.S. Department of Energy’s (DOE&#8217;s) National Renewable Energy Laboratory (<a href="https://www.nrel.gov/index.html" target="_blank" rel="noopener">NREL</a>) have outlined key measures to limit and reuse the materials used in diverse designs of photovoltaics and lithium-ion batteries (LIB), to establish a circular economy-based sustainable strategy for the sector.</p>
<p>Energy storage can mitigate solar forecast errors aligning well with the sharp demand peaks induced by widespread solar deployment. Energy storage solutions are expected to play a prominent role in expanding the share of electricity demand that can be met by photovoltaics-generated electricity.</p>
<p>According to BloombergNEF, the unit price for LIBs in the last ten years dropped by less than 12% from 2010 and is expected to decrease to 4% by 2035. Given the price fall, the U.S. energy storage market has witnessed a drastic rise in demand for lithium-ion batteries. As the price continues to decrease, it is projected that the demand for lithium batteries will increase 44,000-fold from 2010 to 2035.</p>
<p>Photovoltaics contribute the largest share of approximately 45% of electricity in the U.S. generated from renewable energy annually, which is the largest share of any technology in the decarbonization scenario.</p>
<p><a href="https://mercomindia.com/wp-content/uploads/2022/06/Electricity-generation-by-technology-as-simulated-in-the-Solar-Futures-Study.png"><img loading="lazy" decoding="async" class="aligncenter wp-image-37371" src="https://mercomindia.com/wp-content/uploads/2022/06/Electricity-generation-by-technology-as-simulated-in-the-Solar-Futures-Study.png" alt="Electricity generation by technology as simulated in the Solar Futures Study" width="600" height="416" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/06/Electricity-generation-by-technology-as-simulated-in-the-Solar-Futures-Study.png 800w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/06/Electricity-generation-by-technology-as-simulated-in-the-Solar-Futures-Study-300x208.png 300w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/06/Electricity-generation-by-technology-as-simulated-in-the-Solar-Futures-Study-768x532.png 768w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/06/Electricity-generation-by-technology-as-simulated-in-the-Solar-Futures-Study-650x450.png 650w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/06/Electricity-generation-by-technology-as-simulated-in-the-Solar-Futures-Study-624x432.png 624w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/06/Electricity-generation-by-technology-as-simulated-in-the-Solar-Futures-Study-600x416.png 600w" sizes="(max-width: 600px) 100vw, 600px" /></a></p>
<p>The study points out that to meet net-zero emissions and its cost targets for power production, the U.S. must produce 1 TW of photovoltaics by 2050, accompanied by comparable energy storage capacity, primarily battery-driven.</p>
<p>With a focus on improving material utilization for PVs, NREL is working in collaboration with the Durable Module Materials Consortium (<a href="https://www.duramat.org/" target="_blank" rel="noopener">DuraMAT</a>), which is researching ways to extend the useful life of PV modules. The Bio-Optimized Technologies to keep Thermoplastics out of Landfills and the Environment (<a href="https://www.bottle.org/" target="_blank" rel="noopener">BOTTLE</a>) Consortium is studying ways to improve plastics recycling with NREL.</p>
<p>In the U.S, the total utility-scale power capacity totaled 1.2 TW in 2020, including approximately 3% solar. With increased deployments, end-of-life management technologies can address the demand for modules and batteries. The study suggests increased leveraging of digital information systems to help the U.S. photovoltaics and energy markets accelerate towards a circular economy.</p>
<p>A circular economy is an industrial system that is restorative or regenerative. It replaces the end-of-life concept with restoration, shifts towards the use of renewable energy, eliminates the use of toxic chemicals, which impair reuse and return to the biosphere, and aims for the elimination of waste through the superior design of materials, products, systems, and business models.</p>
<p>The researchers examined certain critical pathways towards a circular economy, including key insights, gaps, and opportunities for research and implementation of a circular economy for PV and battery technologies, including strategies that are currently being underutilized. Currently, there are no integrated recycling processes to recover all materials for either technology, while there are no mechanisms to reduce the use of hazardous materials to improve the stability and life span of photovoltaics.</p>
<p>According to the U.S. Energy Storage Monitor report released recently, America <a href="https://mercomindia.com/us-added-955-mw-energy-storage-installations/" target="_blank" rel="noopener">added</a> 955 MW and 2,873 MWh of new installations across all segments in the first quarter of 2022, taking the total grid-scale installations capacity to 2.3 GWh.</p>
<p>A 2020 World Bank report <a href="https://mercomindia.com/mineral-demand-soar-renewable-world-bank/" target="_blank" rel="noopener">stated</a> that the demand for critical minerals used in clean energy technologies would grow by 500% by 2050. The report estimated that over three billion tons of metals and minerals would be required to deploy wind, solar, and geothermal power and energy storage projects in the coming years.</p>


Reusing Discarded Materials Could Spawn a Circular Economy in Energy Storage Sector

<p>The World Bank Group (WBG) has released a report that said demand for key minerals used in clean energy technology could grow almost 500% by 2050 to meet growing demand. It added that over three billion tons of minerals and metals would be required to deploy wind, solar, and geothermal power, as well as in energy storage.</p>
<p>The report stated that a low-carbon future would be very mineral intensive because clean energy technologies need more materials than fossil-fuel-based electricity generation technologies. These technologies are crucial to keep climate change in check by mitigating the negative impact of global warming.</p>
<p>It added that despite demand from clean energy technologies, the overall carbon footprint from extraction to end use of these minerals would still only amount to 6% of the total greenhouse gas emissions from fossil fuel technology.</p>
<p>The report titled ‘Minerals for Climate Action: The Mineral Intensity of the Clean Energy Transition’ said that even if recycling rates for minerals like copper and aluminum by 100%, it would still not be sufficient to meet the demand for renewable energy technologies and energy storage.</p>
<p>The report also noted that the coronavirus pandemic had hit developing countries that rely on minerals and mining. It noted that these economies would need to strengthen their efforts to shift towards eco-friendly mining strategies.</p>
<p>“COVID-19 could represent an additional risk to sustainable mining, making the commitment of governments and companies to climate-smart practices more important than ever before,” said Riccardo Puliti, World Bank Global Director for Energy and Extractive Industries and Regional Director for Infrastructure in Africa.</p>
<p>The report said that generating 1 MW of solar power would require about 3,000 solar panels. Under the 2-degree scenario outlined in the Paris Climate Agreement, the production of graphite, lithium, and cobalt would have to be ramped up by over 450% by 2050 (from 2018 levels) to meet the demand from clean energy technologies.</p>
<p>The 2-degree scenario of the Paris Climate Agreement outlines the need to reduce global greenhouse gas emissions to limit the global temperature increase in this century to 2 degrees Celsius above preindustrial levels.</p>
<p>The report explained that solar photovoltaics (PV) are one of the most attractive technologies for investors worldwide. They are highly mineral intensive technologies, and they rely heavily on aluminum, copper, and silver. It said that by 2050, most solar PV deployments are expected to take place in non-OECD countries, especially in China and India, and there will be a lot of demand for these minerals there.<a href="https://mercomindia.com/wp-content/uploads/2020/05/Share-of-Mineral-Demand-from-Solar-PV.png"><img loading="lazy" decoding="async" class="aligncenter size-full wp-image-19209" src="https://mercomindia.com/wp-content/uploads/2020/05/Share-of-Mineral-Demand-from-Solar-PV.png" alt="Share of Mineral Demand from Solar PV" width="546" height="438" srcset="https://cms.mercomindia.com/wp-content/uploads/2020/05/Share-of-Mineral-Demand-from-Solar-PV.png 546w, https://cms.mercomindia.com/wp-content/uploads/2020/05/Share-of-Mineral-Demand-from-Solar-PV-300x241.png 300w" sizes="(max-width: 546px) 100vw, 546px" /></a></p>
<p>According to the report, demand is expected to shoot up over 500% for certain minerals, especially those used in energy storage technologies like lithium, graphite, and cobalt.</p>
<p>Strategies must be tailored with the objective of addressing both the risks and opportunities presented by mineral demand in the renewable sector, it noted.</p>
<p>The report concluded stating that the mineral intensity of renewable energy technology must be acknowledged and assessed before making the transition into cleaner energy sectors.</p>
<p>Last year, the World Bank announced a multi-donor trust fund called the Climate-Smart Mining Facility. The goal of this facility is to promote the sustainable extraction of minerals used in renewable energy technologies such as wind, solar, and batteries for energy storage and electric vehicles.</p>
<p>Previously, the World Bank established a new Efficient, Clean Cooling Program to accelerate the uptake of sustainable cooling solutions, including air conditioning, refrigeration, and cold chain in developing countries.</p>


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