Cabinet Approves National Critical Mineral Mission
The Union Cabinet has approved the National Critical Mineral Mission (NCMM) on January 29, 2025. The NCMM aims to secure a long-term sustainable supply of critical minerals and strengthen India’s critical mineral value chains encompassing all stages from mineral exploration and mining to beneficiation, processing, and recovery from end-of-life products. The NCMM components also include ‘increasing domestic critical mineral production’ and ‘Acquisition of Critical Mineral Assets abroad’.
For acquisition of overseas mineral assets, the Ministry of Mines has established a joint venture company, Khanij Bidesh India Ltd. (KABIL). KABIL has signed an Exploration and Development Agreement with CAMYEN, a state-owned enterprise of Catamarca province of Argentina, for exploration and mining of five Lithium Brine Block in Argentina in an area of 15703 Ha.
Further, an MoU has been signed between KABIL and Critical Mineral Facilitation Office (CMFO), Department of Industry, Science and Resources (DISER), Government of Australia for carrying out joint due diligence and further joint investment in Li & Co mineral assets of Australia.
NCMM has provision of critical mineral processing parks for which there is budget provision of Rs. 500 Crore. Further, there is also budget provision of Rs. 1500 crore for recycling. In addition, there are also provisions for skill development and R&D activity support.
The governance framework of NCMM includes an Empowered Committee chaired by the Cabinet Secretary with CEO of NITI Aayog and Secretaries of other stakeholder Ministries as members.
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