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?
(a) I and II only (b) II and III only (c) I and III only (d) I, II and III

The correct answer is (c) I and III only.

Here is a detailed explanation for each statement:

I. India has joined the Minerals Security Partnership as a member.
- This statement is correct. In June 2023, India was inducted into the Minerals Security Partnership (MSP), a US-led, multinational initiative designed to secure and diversify critical mineral supply chains.
II. India is a resource-rich country in all the 30 critical minerals that it has identified.
- This statement is incorrect. While India’s government has identified a list of 30 critical minerals, the country is not resource-rich in all of them. In fact, India is heavily import-dependent for many key minerals on this list, such as lithium, cobalt, and nickel, which are vital for electronics and electric vehicle (EV) batteries. The entire purpose of creating a critical minerals strategy and joining the MSP is to address this resource gap.
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.
- This statement is correct. The Mines and Minerals (Development and Regulation) Amendment Act, 2023, empowers the Central Government to conduct auctions for mining leases and composite licenses for 24 specific critical and strategic minerals (such as lithium, titanium, graphite, and rare earth elements). This was done to fast-track the exploration and production of these minerals, which were previously auctioned by state governments.