Copyright infringement not intended

Context:

The National Critical Mineral Mission (NCMM) was launched by the Government to make India self-reliant in critical minerals.

National Critical Mineral Mission (NCMM)

It aims to establish a comprehensive framework for self-reliance in the critical mineral sector. Under this mission, the Geological Survey of India (GSI) has been tasked with conducting 1,200 exploration projects from 2024-25 to 2030-31.

Critical minerals are vital for a country's economic development and national security, and their lack of availability or concentration in a few geographical locations can lead to supply chain vulnerabilities.

Critical minerals are essential components of:

Solar energy

Critical minerals such as silicon, tellurium, indium, and gallium are vital for the production of photovoltaic (PV) cells used in solar panels. India’s current solar capacity of 64 GW is heavily dependent on these minerals.

Wind energy

Rare earth elements like dysprosium and neodymium are used in permanent magnets for wind turbines. India aims to increase its wind energy capacity from 42 GW to 140 GW by 2030, necessitating a stable supply of these minerals.

Electric Vehicles (EVs)

Lithium, nickel, and cobalt are key materials used in lithium-ion batteries. Under the National Electric Mobility Mission Plan (NEMMP), India plans to deploy 6–7 million EVs by 2024, leading to increased demand for these critical minerals.

Energy storage

Lithium-ion batteries used in advanced energy storage systems depend on lithium, cobalt, and nickel.

Objectives of NCMM

Securing Domestic and Foreign Sourcing

• Domestic Critical Mineral Exploration Projects -> Identifying and evaluating domestic reserves of critical minerals.
• Foreign Critical Mineral Mines –> Exploration and acquisition of overseas mineral assets by Public Sector Undertakings.
• Foreign Critical Mineral Mines –> Facilitation and support for private firms to acquire critical mineral assets abroad.
• Incentive Scheme for Recycling (kt) -> To promote recovery of critical minerals from secondary sources like scrap and waste.

Strengthening Value Chains

• Patents in Critical Mineral Value Chain -> Encouraging innovation through development of patents across the critical mineral lifecycle.
• Skill Development -> Training and upskilling workforce to support activities in mining, processing, and R&D.
• Mineral Processing Parks -> Dedicated zones for processing critical minerals with modern infrastructure and facilities.
• Centre of Excellence -> Institutions established for advanced research and technological development in the sector.
• Mineral Stockpile (Cumulative) -> Strategic reserves maintained to ensure uninterrupted supply of critical minerals.

To speed up projects, a fast-track regulatory approval system will be introduced. A new Exploration Licence (EL) will encourage private sector participation. Recovery of minerals from secondary sources like fly ash, tailings, and red mud will be promoted through relaxed rules and incentives.

Must Read Articles:

National Critical Mineral Mission (NCMM) 2024

Source:

PIB

https://t.me/+hJqMV1O0se03Njk9