5 Feb 2025
The mission was announced in the July 2024 budget. The expected investment by PSUs in the project is ₹18,000 crore.
In August 2019, the National Aluminium Company Limited (Nalco), Mineral Exploration Corporation Limited (MECL), and Hindustan Copper Limited (HCL) set up a joint venture called Khanij Bidesh India Limited (KABIL) to acquire mineral sources abroad. KABIL acquired 15,503-hectare land in Argentina to mine Lithium.
It took four years to identify 30 strategic minerals that India needs. The National Critical Minerals Mission (NCMM) outlines the policy framework for securing long-term sustainable supply till 2030-31.
NCMM aims to strengthen the entire mineral value chain, starting with acquiring, exploring, beneficiation, processing, and recovery from products that have reached their end-of-life, like used electronics and industrial equipment. It provides for setting up mineral processing parks and encourages PSUs and private enterprises to acquire critical minerals abroad to meet India’s domestic needs.
These minerals are critical for sustainable energy, high-tech and defence industries. The Budget 2025 eliminated customs duties on most such minerals.
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