New Delhi: The Union Cabinet, led by Prime Minister Narendra Modi, has approved the launch of the National Critical Mineral Mission (NCMM), a seven-year initiative aimed at addressing challenges in the critical mineral sector. The mission will be implemented by the Ministry of Mines from FY 2024-25 to 2030-31, with an expenditure of ₹16,300 crore, of which ₹2,600 crore will be from the budget. Public Sector Undertakings (PSUs) are expected to invest ₹18,000 crore in the project.

The government has identified critical minerals as essential to industries such as high-tech manufacturing, clean energy, and defence. As part of the Atmanirbhar Bharat initiative, several steps have been taken over the past two years to improve the country's position in the critical minerals sector. The mission aims to ensure India’s self-reliance by securing both domestic and foreign supply chains and strengthening the entire critical mineral value chain. This includes advancements in technology, regulatory frameworks, and financial ecosystems to promote innovation, skill development, and global competitiveness in mining, beneficiation, processing, and recycling.

The NCMM will focus on all stages of the mineral value chain, including exploration, mining, beneficiation, processing, and recovery from end-of-life products. One of its main objectives is to accelerate the exploration of critical minerals both within India and in offshore areas. The mission will also streamline regulatory approvals for mining projects and offer financial incentives for exploration, alongside encouraging the recovery of minerals from overburden and tailings.

Additionally, the NCMM aims to facilitate the acquisition of critical mineral assets abroad by Indian PSUs and private sector companies, and enhance trade with countries rich in mineral resources. It also proposes the creation of stockpiles of critical minerals within the country. To support these efforts, the mission will develop mineral processing parks and promote the recycling of critical minerals.

Research in critical mineral technologies will be prioritised, with plans to establish a Centre of Excellence. The mission will adopt a collaborative approach, working with relevant ministries, PSUs, private companies, and research institutions to meet its objectives.

Through these initiatives, the National Critical Mineral Mission seeks to establish a globally competitive and resilient critical mineral ecosystem in India, with a focus on increasing domestic production, developing international partnerships, and promoting technological innovation and human resource development.

BI Bureau