Cabinet approves mineral mission to build resilient value chain for critical mineral resources

The Union Cabinet, chaired by Prime Minister Narendra Modi, has approved the launch of the National Critical Mineral Mission (NCMM) with an expenditure of Rs. 16,300 crore and expected investment of Rs. 18,000 crore by PSUs, etc.

- STATESMAN NEWS SERVICE

As part of the 'Atmanirbhar Bharat' initiative, and recognizing the indispensable role of critical minerals in high-tech industries, clean energy, and defense, the government has undertaken several initiatives over the past two years to address challenges in the critical minerals sector.

There is a need to establish an effective framework for India's self-reliance in the critical mineral sector. In line with this vision, the Finance Minister announced the setting up of the Critical Mineral Mission in the Union Budget for 2024-25 on 23rd July 2024.

The National Critical Mineral Mission, approved by the Union Cabinet, will encompass all stages of the value chain, including mineral exploration, mining, beneficiation, processing, and recovery from end-of-life products.