National Critical Minerals Mission (NCMM)

National Critical Minerals Mission (NCMM)

National Critical Minerals Mission (NCMM) was announced in the Union Budget 2024-25 to promote the acquisition of critical mineral assets abroad and boost trade with resource-rich nations.

Key Features of NCMM

• Objective: Encourage Indian PSUs and private companies to acquire and explore critical minerals globally.
• Budget: ₹16,300 crore in expenditure and ₹18,000 crore expected investment from PSUs and others.
• Exploration Focus: Enhance exploration both within India and in international waters.
• Value Chain: Covers all stages from exploration to mining, processing, and recycling.
• Incentives: Financial support for critical mineral exploration.
• Collaboration: Involves coordination between ministries, PSUs, private companies, and research institutions.
• Additional Measures: Establish mineral processing parks, centers of excellence, fast-track project approvals, and create critical mineral stockpiles.

Need for NCMM
The mission aims to:

• Reduce India's dependence on imports and boost self-reliance.
• Drive economic growth and support the transition to clean energy.

Critical Minerals
These are essential for national security and economic growth. The lack of supply or concentration in specific regions may cause supply chain disruptions. India’s list includes Cobalt, Copper, Lithium, and more.

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