India Launches Rs 163 Bn Mission for Critical Minerals
COAL & MINING

India Launches Rs 163 Bn Mission for Critical Minerals

According to the Ministry of Mines, the Union Cabinet has approved the launch of the National Critical Mineral Mission (NCMM) on 29 January 2025. The Mission will run for seven years, from 2024–25 to 2030–31, with a proposed expenditure of Rs 163 billion and an expected investment of Rs 180 billion from Public Sector Undertakings (PSUs) and other stakeholders. NCMM seeks to secure a long-term, sustainable supply of critical minerals and strengthen India’s mineral value chains—from exploration and mining to processing, beneficiation, and end-of-life recovery.

To reduce India’s reliance on imported lithium, cobalt, and other essential materials used in electric vehicle (EV) batteries, the Government of India has undertaken several reforms:

The Mines and Minerals (Development and Regulation) Act, 1957 (MMDR) was amended through the MMDR Amendment Act, 2023, which came into effect on 17 August 2023. The key provisions include:

  • Inclusion of 24 critical and strategic minerals in Part D of Schedule-I.
  • Removal of six minerals, including lithium, titanium, and niobium, from the list of atomic minerals and their addition to the list of critical and strategic minerals.
  • Introduction of Section 11D, authorising the central government to exclusively auction mining leases and composite licences for these minerals.
  • Grant of exploration licences for 29 minerals listed in Schedule-VII.

Furthermore, the Ministry of Mines has been authorised, via an order dated 21 October 2024 under Section 20A of the MMDR Act, to auction blocks for exploration licences. So far, 24 critical and strategic mineral blocks have been successfully auctioned across four tranches in 2024.

Exploration activity has increased significantly. Over the last three years, the Geological Survey of India (GSI) has conducted 368 exploration projects targeting critical and strategic minerals. In FY 2024–25, 195 projects are underway, with another 227 approved for the next financial year.

Additionally, 100 per cent FDI is permitted through the automatic route for mining and exploration of metal and non-metal ores. Foreign entities can either establish subsidiaries in India or invest in existing Indian companies to obtain exploration and mining rights.

To bolster the critical minerals ecosystem, the government has scrapped customs duties on 25 minerals and lowered Basic Customs Duties (BCD) on two others in the 2024–25 Union Budget.

This update was shared by Shri Bhupathiraju Srinivasa Varma, Minister of State for Heavy Industries, in a written reply in the Lok Sabha.

According to the Ministry of Mines, the Union Cabinet has approved the launch of the National Critical Mineral Mission (NCMM) on 29 January 2025. The Mission will run for seven years, from 2024–25 to 2030–31, with a proposed expenditure of Rs 163 billion and an expected investment of Rs 180 billion from Public Sector Undertakings (PSUs) and other stakeholders. NCMM seeks to secure a long-term, sustainable supply of critical minerals and strengthen India’s mineral value chains—from exploration and mining to processing, beneficiation, and end-of-life recovery.To reduce India’s reliance on imported lithium, cobalt, and other essential materials used in electric vehicle (EV) batteries, the Government of India has undertaken several reforms:The Mines and Minerals (Development and Regulation) Act, 1957 (MMDR) was amended through the MMDR Amendment Act, 2023, which came into effect on 17 August 2023. The key provisions include:Inclusion of 24 critical and strategic minerals in Part D of Schedule-I.Removal of six minerals, including lithium, titanium, and niobium, from the list of atomic minerals and their addition to the list of critical and strategic minerals.Introduction of Section 11D, authorising the central government to exclusively auction mining leases and composite licences for these minerals.Grant of exploration licences for 29 minerals listed in Schedule-VII.Furthermore, the Ministry of Mines has been authorised, via an order dated 21 October 2024 under Section 20A of the MMDR Act, to auction blocks for exploration licences. So far, 24 critical and strategic mineral blocks have been successfully auctioned across four tranches in 2024.Exploration activity has increased significantly. Over the last three years, the Geological Survey of India (GSI) has conducted 368 exploration projects targeting critical and strategic minerals. In FY 2024–25, 195 projects are underway, with another 227 approved for the next financial year.Additionally, 100 per cent FDI is permitted through the automatic route for mining and exploration of metal and non-metal ores. Foreign entities can either establish subsidiaries in India or invest in existing Indian companies to obtain exploration and mining rights.To bolster the critical minerals ecosystem, the government has scrapped customs duties on 25 minerals and lowered Basic Customs Duties (BCD) on two others in the 2024–25 Union Budget.This update was shared by Shri Bhupathiraju Srinivasa Varma, Minister of State for Heavy Industries, in a written reply in the Lok Sabha.

Next Story
Real Estate

Hiranandani Launches India’s Largest Coastal Township in Alibaug

Hiranandani Communities, led by Dr Niranjan Hiranandani, has launched Hiranandani Sands, India’s largest integrated coastal township, near Mumbai in Alibaug, with an estimated revenue of Rs 170 billion. Spanning 225 acre, the township is designed as Mumbai’s lifestyle extension hub, featuring luxury homes, signature villas, plotted developments, and branded serviced apartments. Residents will have private beachfront access and a jetty, alongside five hotels covering luxury, business, and leisure segments, a mega convention centre, eco-wellness hub, beachside entertainment, and a globa..

Next Story
Real Estate

TDI City Kundli Relaunched with Rs 1 Billion Redevelopment Plan

TDI Infrastructure has announced a Rs 1 billion investment to redevelop and relaunch the 1,100-acre TDI City Kundli, positioning it as a natural and affordable alternative for residents of North and West Delhi. Situated just 30 minutes from Delhi via the newly operational UER-2, the township currently has around 7,000 plot owners and more than 5,000 apartments.“As part of the redevelopment, we are collaborating with Resident Welfare Associations (RWAs) to upgrade 62 parks across 23 acres, improve internal roads, enhance the existing clubhouse, and commence a new second clubhouse to support r..

Next Story
Infrastructure Transport

India Plans Rs 70 Billion Push for Shipbuilding and Ports

The Indian government is preparing a Rs 70 billion stimulus for the shipping sector, with the Union Cabinet expected to review three major schemes shortly, according to media reports. The initiative reflects India’s efforts to expand shipbuilding, port infrastructure, and maritime trade capacity in the coming years.Shares of leading shipbuilders such as Shipping Corporation of India (SCI), Garden Reach Shipbuilders & Engineers (GRSE), and Mazagon Dock Shipbuilders have already risen on expectations of government support.The plan centres on three key initiatives: a Rs 20 billion Shipbuild..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?