Why in News?
In his Independence Day 2025 speech, PM Modi announced opening the nuclear energy sector to private players and a tenfold increase in nuclear capacity by 2047, alongside boosting self-reliance in energy and critical minerals through the National Critical Minerals Mission.
Description:
- Launch Year: 2025(Ministry of Mines)
- Outlay: ₹34,300 crore
- Covered Minerals: Lithium, cobalt, nickel, copper, rare earth elements.
- Key Reform: 2023 MMDR Act amendment → auction of 24 strategic mineral blocks.
- GSI Exploration (2025–26): 227 projects.
- Strategic Component: Creation of mineral stockpile.
Objectives of NCMM:
- Enhance Domestic Exploration – Focus on onshore & offshore mineral surveys.
- Reduce Import Dependence – India is import-reliant for lithium, cobalt, nickel, REEs.
- Develop Processing & Recycling – Mineral processing parks, recycling tech, sustainable extraction.
- Overseas Mineral Acquisitions – Encourage PSUs & private companies to secure assets abroad.
- Policy & Regulatory Support – Faster mining approvals + financial incentives.
Why Critical Minerals Are Important?
- Clean Energy Transition:
- EV batteries → Lithium, cobalt, nickel
- Solar panels, wind turbines → Copper, rare earths
- High-Tech & Defence: Smartphones, medical devices, defense equipment.
- Strategic Security: Secure supply chains → reduce vulnerability to global shocks.
Implementation Measures:
- Fast-track Mining Approvals → to speed up projects.
- Strategic Stockpile → safeguard supply chains.
- Policy Reform (2023):
- Amendment to Mines & Minerals (Development & Regulation) Act, 1957.
- Allowed auction of 24 strategic mineral blocks.
- Geological Survey of India (GSI):
- Past 3 years → 368 exploration projects.
- 227 projects planned in 2025–26.
- Custom Duty Waivers (FY25 Budget): To promote domestic processing.
Significance:
- Supports Atmanirbhar Bharat in clean tech.
- Reduces supply chain vulnerabilities.
- Boosts domestic manufacturing of EVs, solar panels, wind turbines, electronics.
- Attracts private & foreign investment.
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