Cabinet Approves Rs 16,300 Crore National Critical Mineral Mission
The Union Cabinet has approved the National Critical Mineral Mission (CMM) with an outlay of Rs 16,300 crore. This initiative is aimed at addressing the critical need for minerals that are essential for key technologies and defense manufacturing. The CMM seeks to boost the domestic production of critical minerals, reduce dependence on imports, and enhance India’s resource security by fostering both onshore and offshore mining activities.
The mission will address the entire value chain of critical minerals, from exploration and mining to beneficiation, processing, and recovery from end-of-life products. With a focus on critical minerals like lithium, cobalt, copper, nickel, and rare earth elements, the mission also aims to streamline regulatory processes, incentivize exploration, and develop a national stockpile of these minerals. By promoting both public and private sector participation, the mission is poised to make India self-reliant in critical mineral resources.
Summary/Static | Details |
Why in the news? | Cabinet Approves Rs 16,300 Crore National Critical Mineral Mission |
Critical Mineral Exploration | Focus on both onshore and offshore areas. |
Regulatory Process | Establish a fast-track approval system for mining projects. |
Financial Incentives | Provide incentives to promote exploration activities. |
Mineral Recovery | Emphasize recovery of critical minerals from overburden and tailings. |
Public-Private Collaboration | Encourage cooperation between PSUs, private sector, and government. |
Offshore Mining | Launch offshore mining auctions to reduce import dependence. |
National Stockpile | Build a national reserve of critical minerals. |
Self-reliance in Minerals | Decrease dependence on imports by enhancing local production. |
Critical Minerals | Essential for economic development and national security; shortages or concentration in few regions lead to vulnerabilities. |
Countries’ Lists of Critical Minerals | US (50), Japan (31), UK (18), EU (34), Canada (31). |
Significance for India | Economic growth, national security, and environmental sustainability through clean energy technologies. |
Challenges | Limited domestic reserves, reliance on imports (lithium, nickel), geopolitical disruptions (Russia-Ukraine conflict), increasing demand for minerals. |
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