NEWS – National Critical Minerals Mission (NCMM)  approved by  Union Cabinet

HIGHLIGHTS

• Aim: Strengthen India’s critical minerals value chain.
• Focus: Building technological, regulatory, and financial ecosystem for mineral availability (domestic & foreign).
• Boost: Access to raw materials for strategic sectors (clean energy, electronics, defense, agriculture).

Financial Outlay & Targets

• Total Budgetary Outlay: Rs 16,300 crore (over 7 years).
• Expected Investment from PSUs: Rs 18,000 crore.
• NMET Budget: Rs 3,000 crore (exploration) + Rs 5,600 crore (foreign sourcing risk coverage & overseas exploration).
• GSI Budget: Rs 4,000 crore.
• Anusandhan National Research Foundation (ANRF) & R&D Schemes: Rs 1,000 crore.
• Budgetary Support: Rs 2,600 crore.
• Targeted Exploration Projects: 1,200 (till 2030-31).
• Targeted Auction of Mineral Blocks: 100+ (till 2030-31).
• Targeted Recycled Material: 400 kt.
• Targeted Mineral Mine Acquisition Abroad: 50.

Key Strategies & Initiatives

• Increased Exploration: Funding for NMET and GSI to boost exploration.
• Data Availability: Providing investors with reserve data to increase auction participation.
• Foreign Sourcing: NMET funding for risk coverage and overseas exploration.
• Mines and Minerals (Development and Regulation) Act Amendment: To enable NMET funding for mission activities.
• Mineral Recycling: Incentive scheme (Rs 1,500 crore) targeting 400 kt of recycled material.
• Mineral Processing Parks: Creation of four parks.
• Recycling Guidelines: Separate guidelines for critical mineral recycling, focusing on informal sector.
• Critical Minerals Partnership Agreements: With resource-rich countries.
• Integration in Trade Agreements: Including chapters on critical minerals.
• Overseas Mine Acquisition: Encouraging PSUs and private companies. KABIL’s acquisition in Argentina as an example.
• PLI Scheme: For mineral recycling pilot projects.
• World Bank’s RISE Initiative: Exploring external funding.

Stakeholder Involvement

• Central PSUs: KABIL, Coal India Ltd, NMDC, NTPC Mining Ltd, NLC India Ltd, SAIL, IREL, Oil India Ltd, ONGC Ltd.
• Private Sector Companies: Encouraged to participate in overseas acquisitions.
• International Partnerships: Agreements with Argentina, Zambia, US, etc