National Critical Mineral Mission

On 29th January 2025, the Union Cabinet approved the launch of the National Critical Mineral Mission (NCMM) with an expenditure of Rs. 16,300 crore and an expected investment of ₹18,000 crore from public sector undertakings (PSUs) and other stakeholders.

Key Points

Mission Objective: The NCMM aims to bolster India’s self-reliance in the critical mineral sector, vital for high-tech industries, clean energy, and defense.
Budget Allocation: The mission will be supported with Rs. 16,300 crore in expenditure, with an anticipated Rs. 18,000 crore investment from PSUs and other stakeholders.
Value Chain Focus: NCMM will cover all stages, from exploration to recycling, to fast-track domestic exploration, simplify regulatory approvals, and provide financial incentives.
Strategic Expansion: The mission encourages PSUs and private companies to acquire mineral assets abroad, develop strategic stockpiles, and establish mineral processing parks.
Regulatory Reforms: Reforms include amendments to the Mines and Minerals (Development and Regulation) Act, 1957, and the auction of 24 strategic mineral blocks.
Exploration Initiatives: The Geological Survey of India (GSI) has 195 ongoing exploration projects in FY 2024-25 and plans 227 for FY 2025-26.
Support for Innovation: The Ministry of Mines launched the S&T PRISM program to promote research and innovation in startups and MSMEs.
International Investments: Khanij Bidesh India Limited (KABIL) acquired 15,703 hectares in Argentina for lithium exploration and mining.
Customs Duty Removal: The Union Budget 2024-25 removed customs duties on most critical minerals to promote domestic availability and local processing.