National Critical Mineral Mission
The Indian government has launched a ₹16,300-crore National Critical Mineral Mission with an outlay of ₹34,300 crore over seven years to achieve self-reliance and assist in the transition to green energy.
Objective and Importance
- Aim to reduce dependency on imports of critical minerals and enhance self-sufficiency.
- Focus on critical minerals essential for clean energy technologies, e.g., copper, lithium, nickel, cobalt, and rare earth elements.
Strategic Goals
- Increase exploration and mining of critical minerals domestically and offshore.
- Reduce import dependence and acquire mineral blocks overseas.
- Develop technologies for mineral processing and recycle minerals.
Implementation Strategy
- Value Chain Coverage: Includes exploration, mining, beneficiation, processing, and recycling.
- Establishment of a fast-track regulatory approval process for mining projects.
- Financial incentives for exploration and recovery from overburden and tailings.
- Encouragement for public and private sector enterprises to acquire assets abroad.
- Proposal to set up mineral processing parks and centers of excellence.
Legislative and Regulatory Support
- Amendment of the Mines and Minerals (Development and Regulation) Act, 1957 in 2023.
- Geological Survey of India (GSI) projects for critical mineral exploration.
- Elimination of customs duties on critical minerals to boost domestic processing.
Collaborative Approach
- Adopting a whole-of-government approach, coordinating with ministries, PSUs, private entities, and research institutions.
