Critical Raw Materials Act: A new report criticizes sluggish progress in recycling, domestic mining, and processing, while also highlighting major transparency deficits.
The initiative is intended to insulate the domestic industry from supply shortages.
New budget draft proposes, among other measures, the removal of import duties on equipment used to process critical minerals such as rare earths.
Ottawa aims to help meet India’s growing demand for critical resources
The Southeast Asian country is a major producer of tungsten and holds large, still largely untapped reserves of other critical minerals such as rare earths.
The economic bloc will gain access to India’s rapidly growing market, while the subcontinent is expected to benefit from increased investment and new export opportunities. The raw materials sector, in particular, could see long-term gains.