The Union Cabinet on 29 January 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.

 

According to the official release, "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. The mission will intensify the exploration of critical minerals within the country and in its offshore areas. It aims to create a fast track regulatory approval process for critical mineral mining projects. Additionally, the mission will offer financial incentives for critical mineral exploration and promote the recovery of these minerals from overburden and tailings."

 

It adds, "The mission aims to encourage Indian PSUs and private sector companies to acquire critical mineral assets abroad and enhance trade with resource-rich countries. It also proposes development of stockpile of critical minerals within the country."

The mission includes provisions for setting up mineral processing parks and supporting the recycling of critical minerals. It will also promote research in critical mineral technologies and propose a Centre of Excellence on Critical Minerals. The Mission will work closely with relevant ministries, PSUs, private companies, and research institutions to achieve its objectives. It aims to reduce import dependence, strengthen domestic value chains and support India's 'Net Zero by 2070' goal.

 

This initiative is part of the Union Budget 2024-25, where the Union Finance Minister, Nirmala Sitharaman, unveiled the National Critical Minerals Mission.  The budget proposed to set up a Critical Mineral Mission for domestic production, recycling of critical minerals, and overseas acquisition of critical mineral assets. It mentioned that the Mission’s mandate will include technology development, a skilled workforce, an extended producer responsibility framework, and a suitable financing mechanism.

Following the approval of the Union Cabinet to the National Critical Mineral Mission, the Ministry of Mines, vide gazette notification dated 20th February 2025, shifted minerals Barytes, Felspar, Mica and Quartz from the list of minor minerals to the category of major minerals. These minerals have vital role in various new technologies, in energy transition, spacecraft industries, healthcare sector, etc.

“In view of the importance of these minerals, the Inter-Ministerial Committee on Mines & Minerals Sector constituted under the chairmanship of Dr. V. K. Saraswat, Member NITI Aayog, recommended that these minerals be shifted from the list of minor minerals to the category of major minerals. Once categorised as major minerals, there would be an increase in exploration and scientific mining of these minerals, which are an important source of many critical minerals,” said the official Government release.