Govt approves Rs 16,300-crore National Critical Minerals Mission

The government on Wednesday approved a Rs 16, 300-crore National Critical Mineral Mission (NCMM) to expand exploration and use of 24 specified minerals.

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The approval was given by the Union Cabinet chaired by Prime Minister Narendra Modi.

These yield materials and metals needed in semi-conductors, electronics, space sector wind turbines and military equipment. Currently, they are imported with supply chains strategically controlled and always under geo-political pressures.

Briefing the media after the Cabinet meeting, Union Minister for Information and Broadcasting Ashwini Vaishnaw said that the mission aims to reduce the dependence on import of critical minerals and ensure self-reliance.

The mission has an allocation of Rs 16,300 crore to be spent over six years and the Public Sector Undertakings are expected to invest a sum of Rs 18,000 crore for NCMM, he said.

Some of these minerals are available for mining in Odisha, Andhra Pradesh, Maharashtra, Tamil Nadu, Kerala, Goa and Gujarat and will be exploited.

The NCMM, first proposed in the Union Budget 2024-25, is designed to advance India's journey towards self-reliance in the raw materials essential for the nation’s economic growth.

The mission is aimed at reinforcing India’s Critical Mineral value chain across all stages – from exploration and mining to beneficiation, processing, and recovery from end-of-life products. The mission’s goal is to ensure self-sufficiency in fulfilling the industrial demands for critical minerals.

Domestic exploration, production of critical minerals and acquisition of critical mineral blocks in other countries, are among the strategies of the NCMM. It is expected to reduce import dependence and encourage offshore mining auctions.