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According to Sputnik, the Indian government has identified 12 cutting-edge defense equipment manufacturing designs as key minerals. India has not announced the domestic reserves of most key minerals, including rare earth minerals, as rare earth raw materials currently heavily rely on China, the world's largest producer.
It is reported that the Indian government plans to invite its companies or institutions to participate in a three-year geological survey of rare earth minerals, which will collect baseline magnetic and spectral data through geological testing within three years. The government will soon establish a global company and conduct surveys of over 800000 square kilometers with a budget of 210 million US dollars.
The Geological Survey of India is launching a nationwide geological mapping program aimed at obtaining baseline magnetic and spectral data in areas with 'significant geological potential (OGP)'. By April 2017, the aviation geological exploration of nearly 205000 square kilometers will proceed as planned, "said Piyush Goyal, Minister of Mineral Resources of India.
At present, in order to include private exploration institutions in the project, the Indian government has implemented a revenue sharing mechanism and provided a comprehensive structural framework for the occurrence of deep and hidden mineral deposits in the country.
Previously, the Indian government had identified key minerals in the fields of aerospace, automotive, camera, defense, entertainment systems, laptops, medical imaging, nuclear energy, and smartphones. Among the 12 key minerals identified, 7 are completely dependent on imports by India, and apart from light rare earths (associated with sandstone) and beryllium, India has not claimed to have discovered any other types of resources.