SAIL Eager to Join Critical Mineral Mission

5 Sep 2024 , 01:42 PM

SAIL, the country’s largest steel manufacturer, is eager to join in the vital Mineral Mission, which aims to safeguard the country’s vital mineral supply chain by ensuring mineral availability from both domestic and foreign sources, said Chairman Amarendu Prakash on Thursday.

The Union Budget 2024-25 proposed establishing an essential Mineral Mission to promote domestic production, recycling of essential minerals, and international purchase of critical mineral assets.

“FM Nirmala Sitharaman announced the Critical Minerals Mission.” During that mission, many topics will be explored, including all possible outcomes. So we’ll keep an eye on this and see what chances arise.

“As the Critical Mineral Mission expands and things are discussed, we will be watching to see if there are opportunities for SAIL to explore something,” the Chairman told reporters on the sidelines of the ISA Steel Conclave.

The vital Mineral Mission seeks to protect the country’s vital mineral supply chain by ensuring mineral availability from both domestic and international sources.

It also seeks to strengthen value chains by improving technological, regulatory, and financial ecosystems to promote innovation, skill development, and global competitiveness in mineral exploration, mining, beneficiation, processing, and recycling.

So far, SAIL has focused on minerals needed in steel production, according to the Chairman, who added that the essential minerals section is separate.

“We haven’t been into that space (critical minerals) before now, but now that the government has launched a Critical Mineral Mission, we’ll start exploring. “We’ll look into it,” he replied.

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