Source: EET
Context: The Ministry of Mines has issued detailed guidelines for the ₹1,500 crore Critical Mineral Recycling Incentive Scheme, a key component of the National Critical Mineral Mission, to promote domestic recycling and reduce import dependence.
About Critical Mineral Recycling Incentive Scheme:
What it is?
- A centrally sponsored incentive scheme under the Ministry of Mines designed to promote recycling of critical minerals from secondary sources such as e-waste and spent lithium-ion batteries.
Parent Scheme: National Critical Mineral Mission (NCMM)
Aim:
- To reduce import dependence for essential minerals used in EVs, batteries, electronics, and renewable energy systems.
- To build circular economy capacity by encouraging extraction and reuse of critical minerals from waste streams.
Key Features:
- Financial Outlay: ₹1,500 crore total incentive allocation.
- Eligibility: Covers new units, capacity expansion, and modernisation of existing recycling units.
- Feedstock Source: Includes e-waste, spent lithium-ion batteries, and other metal-rich scraps.
- Beneficiaries: Both large recyclers and start-ups, with ceilings of ₹50 crore and ₹25 crore respectively (including Capital Expenditure + Operational Expenditure support).
- Focus Area: Incentives limited to the actual extraction of critical minerals, excluding black mass production stage.
- Expected Outcomes:
- Develop 270 kilo tonnes/year recycling capacity.
- Yield 40 kilo tonnes of critical minerals annually.
- Mobilise ₹8,000 crore private investment.
- Create 70,000 direct and indirect jobs.
Significance:
- Strategic Independence: Reduces reliance on China and other nations for critical minerals essential for EVs and renewable technologies.
- Circular Economy Boost: Encourages sustainable reuse of resources, aligning with India’s LiFE (Lifestyle for Environment) mission.
