Govt incentive scheme for key mineral recycling

Scheme to apply in investments in new, existing units

- RAKESH KUMAR @ New Delhi

The government on Wednesday approved a ₹1,500 crore incentive scheme to source critical minerals from secondary sources or used products.

As per the Ministry of Mines, critical minerals such as rare earth magnets will be obtained from lithium-ion battery (LIB) scrap and other non-e-waste scrap such as catalytic converters from end-of-life vehicles.

The incentives are expected to help develop 270 kilo tonnes of annual recycling capacity, resulting in 40 kilo tonnes of critical mineral production a year.