Source: The Print
Context: The Union Cabinet, has approved the National Critical Mineral Mission (NCMM) with an expenditure of ₹16,300 crore and an additional ₹18,000 crore investment from PSUs.
About National Critical Mineral Mission (NCMM):
- What is the National Critical Mineral Mission (NCMM)?
- The National Critical Mineral Mission (NCMM) is a strategic initiative designed to ensure India’s self-reliance in critical mineral resources.
- These minerals are vital for renewable energy, electronics, and defense manufacturing, reducing import dependency and fostering industrial growth.
- Key Details:
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- Ministry: Ministry of Mines
- Announced In: Union Budget 2024-25
- Budget: ₹34,300 crore (₹16,300 crore from the government + ₹18,000 crore from PSUs & private sector)
- Objective: Strengthen India’s supply chain for critical minerals through domestic exploration, overseas asset acquisition, and technological innovation.
- Aims of NCMM:
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- Accelerate Domestic Exploration & Mining: Expand critical mineral exploration within India, including offshore reserves.
- Regulatory Reforms: Fast-track mining approvals for seamless extraction and processing.
- Strategic Global Partnerships: Facilitate acquisition of mineral assets abroad by PSUs and private players.
- Infrastructure Development: Establish mineral processing parks and promote critical mineral recycling.
- Encourage R&D & Innovation: Support research in advanced mineral processing technologies and set up Centers of Excellence.
- Key features of NCMM:
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- Comprehensive Value Chain Development: Covers exploration, mining, beneficiation, processing, and recycling of critical minerals.
- Financial Incentives: Offers monetary support for exploration and sustainable mineral recovery.
- Stockpile Strategy: Develops a national reserve of critical minerals for long-term security.
- Industry Collaboration: Encourages PSUs and private firms to invest in global mining projects.
- Legislative Backing: Strengthened by 2023 amendments to the Mines and Minerals (Development and Regulation) Act, 1957.
- Some critical minerals covered under NCMM:
- The mission prioritizes minerals essential for renewable energy, semiconductor manufacturing, and defense applications, including:
| Mineral Name | Industry Used In |
| Lithium & Cobalt | EV batteries, electronics |
| Graphite & Nickel | Battery storage, alloys |
| Rare Earth Elements (REEs) | High-tech manufacturing, defense applications |
| Titanium & Tungsten | Aerospace, industrial applications |
| Vanadium & Molybdenum | Steel production, energy storage solutions |
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