National Critical Mineral Mission

India has launched a 'National Critical Mineral Mission' from FY 2024-25 to FY 2030-31 to secure the supply of critical minerals and strengthen India’s critical minerals’ value chains. The Government has earmarked an expenditure of INR 16,300 crore (approx. USD 1.9 billion) and expects investment of Rs.18,000 crore (approx. USD 2 billion) by public sector undertakings during the 7-year period.

The NCMM encompasses all stages of the value chain, including mineral exploration, mining, beneficiation, processing, and recovery from end-of-life products. 

Exploration:  The NCMM sets a target of completing 1 200 domestic exploration projects by 2030-2031, with an aim of ensuring domestic production of at least 15 critical minerals (such as graphite, lithium, potash, REEs). The NCMM also aims for Indian companies to acquire 50 mining assets worldwide. To achieve these targets, it seeks to create a fast-track regulatory approval process for mining projects.

Recycling: The NCMM seeks to set up an incentive scheme for mineral recycling with a budget of INR 1 500 crore (USD 170 million), with a target of recovering 400 kilotonnes (kt) of recycled material. 

Stockpiling: The NCMM foresees the creating of a National Critical Minerals Stockpile comprising at least 5 critical minerals to mitigate the risks from global supply chain disruptions.

Research: The NCMM seeks to promote research in critical mineral technologies with a target of achieving self-sufficiency in processing at least 5 critical minerals and generating 1 000 patents across the critical mineral value chains by 2031. It also proposes setting up 4 regional mineral processing parks and 3 Centres of Excellence on Critical Minerals.

Governance: The NCMM envisages the formation of an Empowered Committee on Critical Minerals that would coordinate and implement the initiatives under the NCMM.

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