The Union Cabinet has recently approved the National Critical Minerals Mission (NCMM), allocating a substantial budget of ₹16,300 crore over a span of seven years. This mission is designed to focus on both domestic and foreign exploration of critical minerals, sustainable mining practices, and developing strategic value chains that are essential for India’s economic growth.
The budget for the NCMM includes significant investments aimed at bolstering India's mineral resources. Specifically, ₹3,000 crore is earmarked for the National Mineral Exploration Trust (NMET), while ₹4,000 crore is allocated for the Geological Survey of India (GSI). These funds are intended to enhance access to raw materials and foster self-reliance in crucial sectors.
The primary aim of the NCMM is to secure India's critical mineral supply chain by:
The mission targets 50 critical minerals that are vital for various sectors, including clean energy, electronics, agriculture, and defense. Notable minerals like lithium, cobalt, and rare earth elements will be prioritized to ensure a sustainable supply.
To further enhance mineral exploration, an additional ₹5,600 crore will be allocated to NMET, facilitating partnerships with countries such as Germany, Zambia, and Australia. These collaborations are aimed at strengthening India’s mineral resource base on a global scale.
Central Public Sector Undertakings (PSUs) will play a critical role in the NCMM by acquiring critical mineral assets overseas. This initiative is designed to reinforce India's strategic value chains and enhance resource security.
To promote sustainable practices, the NCMM will also focus on setting up mineral processing plants and establishing recycling guidelines. This will ensure the efficient utilization of critical minerals and contribute to environmental sustainability.
The mission is integral to supporting India's clean energy objectives by securing the supply of essential minerals needed for technologies such as solar panels and electric vehicles. This will significantly aid India's transition towards renewable energy sources.
India’s efforts through the NCMM will align with international initiatives, including the Resilient and Inclusive Supply Chain Enhancement (RISE), fostering bilateral and multilateral partnerships.
By 2030, the Ministry of Mines aims to complete 1,200 exploration projects and assess 1,000 mineral blocks utilizing advanced technologies. This ambitious goal underscores the commitment to fortifying India's mineral supply chain.
Ultimately, the NCMM aims to strengthen India's economic resilience by reducing reliance on imports, fostering technological innovation, and promoting strategic partnerships in the mineral sector. As the saying goes, “Success comes to those who prepare today for the challenges of tomorrow.”
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