Consider the following statements: I. India has joined the Minerals Security Partnership as a member. II. India is a resource-rich country in all the 30 critical minerals that it has identified. III. The Parliament in 2023 has amended the Mines and Minerals (Development and Regulation) Act, 1957 empowering the Central Government to exclusively auction mining lease and composite license for certain critical minerals. Which of the statements given above are correct?

1. A. I and II only
2. B. II and III only
3. C. I and III only
4. D. I, II and III

Answer: C

Explanation

Statement I is correct. India joined the Minerals Security Partnership (MSP) in June 2023, becoming its 14th member. The MSP is a US-led initiative aimed at securing critical mineral supply chains. Statement II is incorrect. While India has identified 30 critical minerals, it is not resource-rich in all of them. India remains significantly dependent on imports for several critical minerals like lithium, cobalt, nickel, and vanadium, as it lacks proven domestic reserves for all identified minerals. Statement III is correct. The Mines and Minerals (Development and Regulation) Amendment Act, 2023, empowered the Central Government to exclusively auction mining leases and composite licenses for certain critical and strategic minerals. This amendment aims to boost domestic exploration and production of these vital resources. The strategic importance of critical minerals for India’s economic growth and national security makes this a significant topic for UPSC.