Explanation:

• The Centre may issue so-called composite licences to find and extract critical minerals, in effort to end the fragmented nature of licensing, and tempt mining giants which passed up the blocks that went on auction last year.

About Critical Minerals

• These minerals are necessary for national security, economic growth, and renewable energy. 

• The development of numerous industries, such as high-tech electronics, telecommunications, transportation, and defence, depends on these.

• Statement 1 is incorrect: Critical minerals have no particular definition and countries identify the minerals critical to them using their own criteria.

• The US has identified 50 critical minerals.

• Japan recognizes 31 minerals critical for its economy.

• The UK, EU, and Canada also maintain their unique lists.

• Identified Critical Minerals in India: The Expert Committee under the Ministry of Mines has identified a set of 30 critical minerals for India.

• Statement 2 is correct: These are Antimony, Beryllium, Bismuth, Cobalt, Copper, Gallium, Germanium, Graphite, Hafnium, Indium, Lithium, Molybdenum, Niobium, Nickel, PGE, Phosphorous, Potash, REE, Rhenium, Silicon, Strontium, Tantalum, Tellurium, Tin, Titanium, Tungsten, Vanadium, Zirconium, Selenium, and Cadmium.

Mines and Minerals (Development and Regulation) Amendment Act 2023

• Statement 3 is incorrect: The Act removes minerals such as beryllium and beryl, lithium, niobium, titanium, tantallium, and zirconium from the list of atomic minerals, and the commercial sector is now able to bid for them. Mining and exploration of these minerals will be available to the private sector once they are removed from the list of atomic minerals.

Hence option 1st is correct.