The post pandemic world and the ongoing energy transition has exponentially increased the significance and demand of minerals across the globe. At Global Metals and Mining event, senior stakeholders from the industry outlined the policy measures and developments which are changing the metal and mining landscape in the country.
Chief guest, Pralhad Joshi, Minister for Coal, Mines and Parliamentary Affairs, via a virtual address, highlighted that coal and the overall mining sector has become a driver of the Indian economy and steps such as auction of mines, viability gap funding, other policy measures, have been taken to give fillip to the sector.
He outlined that in the coming decades the metals and mining industry in the country will grow in a sustainable way and the country will be self-reliant in terms of production.
The keynote address at the event was given by Sunil Duggal, Chairman, Policy and Strategy, Vedanta Ltd, who highlighted that the demand of electric vehicles is changing the landscape of the sector globally as the metals required for electric vehicles are six to seven times more than the requirement of metals for normal car production.
He outlined that sustainability will remain the focus of the industry in the years to come as traditionally the sector has been stigmatized as a polluting and hazardous sector.
Duggal also cautioned that as China emerges as a major power and producer of electric vehicles, it has taken steps such as banning certain minerals.
Such actions can be a catalyst for global conflicts going ahead, he added.