What is the story about?
What's Happening?
The UK and India have announced the establishment of a new satellite campus at the Indian Institute of Technology - Indian School of Mines (IIT ISM) in Dhanbad. This initiative is part of the UK-India Technology Security Initiative (TSI) and involves the creation of the Technology Innovation in Exploration and Mining Foundation (TEXMiN) campus. The project is supported by an investment of 1.8 million pounds sterling, pledged by Indian Prime Minister Narendra Modi and British Prime Minister Keir Starmer. The campus aims to enhance the digital infrastructure for traceability, sustainable sourcing, and transparency in the supply chains of critical minerals such as lithium, copper, nickel, and cobalt. These minerals are essential for modern applications, including electric vehicles and renewable energy. The collaboration also involves the Industrial Resilience Research Group at the University of Cambridge and IIT Bombay, focusing on assessing supply chain risks, investment, and recycling opportunities.
Why It's Important?
The establishment of the TEXMiN campus at IIT-ISM Dhanbad is significant for both India and the UK as it addresses the growing demand for critical minerals necessary for technological advancements and energy transitions. By enhancing the traceability and sustainability of mineral sourcing, the initiative supports the development of electric vehicles and renewable energy technologies, which are crucial for reducing carbon emissions and combating climate change. The collaboration also strengthens the research and innovation ties between the two countries, potentially leading to more efficient and resilient supply chains. This partnership could benefit industries reliant on these minerals, ensuring a stable supply and fostering economic growth in both nations.
What's Next?
The TEXMiN campus is expected to build extensive digital infrastructure to support the traceability and sustainable sourcing of critical minerals. The collaboration may lead to further research and development initiatives, focusing on improving supply chain resilience and exploring recycling opportunities. Additionally, the International Centre of Excellence in Mining (iCEM) by the Gujarat Mineral Development Corporation Limited plans to set up a variant of the observatory in Ahmedabad, focusing on the Rare Earth Element supply chain and skill development in mid-stream operations. These efforts could enhance the capabilities of both countries in managing critical mineral resources.
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