Top mining and metal businesses are looking for start-up solutions in the areas of waste management, water conservation, and hardware.
The mines ministry organized India’s first start-up summit in Mumbai on May 29 in partnership with IIT Bombay in an effort to take use of the vast capabilities of the country’s startup ecosystem.
In the opening session, Pralhad Joshi, the union minister for parliamentary affairs, coal, and mines, suggested that public sector enterprises (PSUs) in the mining industry set aside money to buy items made by Indian start-ups, which will give them some early stability.
Major mining and metal industries in the nation sought start-up ideas for waste management, water conservation, and mining equipment as part of the summit.
Leading executives from Nalco, Hindalco Industries, NMDC, and Hindustan Zinc, among other mining and metals firms, claim that the sector is searching for start-up-based solutions in a variety of areas.
Satish Pai, managing director of Hindalco Industries, stated some of the fields in which he would want to see involvement from Indian start-ups during a presentation at the summit, including waste utilization, drone hardware production, and water treatment solutions.
The chairman and managing director of Nalco, Sridhar Patra, searched for start-up options for operating renewable energy sources including solar arrays in cyclone-prone areas of East India.
The development of practical remedies for red mud, also known as bauxite residue, a hazardous byproduct of the aluminum manufacturing process, was pushed by top corporate figures in the startup industry.
The summit is logo was introduced by the government on May 10. According to Secretary Vivek Bharadwaj, “start-ups can play a significant role in addressing the technological challenges faced by the country’s mining sector.”
According to representatives of the ministry, the summit includes about 140 attendees.
The summit, which lasted an entire day, focused on innovation and methods that may foster autonomy in the mining and metallurgical sectors while also discussing a number of urgent industry-related concerns.
The ministry wants to communicate with startups in the mining and metallurgical fields and learn how they are outfitted with various technologies that may benefit the industry. This summit intends to give them a platform to do so.
Relevance to the industry
The mining industry in India employs a sizable workforce that works in a wide range of jobs in associated businesses as well as mining operations, exploration, processing, and transportation. This summit may make it possible for start-ups to reach their full potential given the nation’s abundant natural resources.
The Geological Survey of India (GSI) recently discovered lithium resources in the nation, therefore the peak is also notable in light of these discoveries. According to the GSI, the Salal-Haimana region in the Reasi District of Jammu & Kashmir contains an estimated 5.9 million tonnes of lithium inferred resources (G3).
The country’s lithium discoveries would be handled in India, according to mining minister Joshi, who was speaking outside of the gathering. “We will only be able to process inside of India. In response to a question about the expansion of lithium refining capabilities in India, he stated, “We would look at it progressively.
