Cabinet approves National Critical Mineral Mission with ₹34,300 crore outlay
The Union Cabinet on 29 January 2025 approved the National Critical Mineral Mission with government expenditure of ₹16,300 crore and expected PSU investment of ₹18,000 crore, a total of ₹34,300 crore over seven years.
Summary
The Union Cabinet chaired by PM Narendra Modi approved the National Critical Mineral Mission (NCMM) on 29 January 2025, with expenditure of ₹16,300 crore and expected investment of ₹18,000 crore by PSUs and others, totalling ₹34,300 crore over seven years. The National Critical Mineral Mission will cover the whole value chain from exploration, mining, beneficiation and processing to recovery from end-of-life products, including offshore exploration, a fast-track regulatory approval process, a national stockpile, mineral processing parks and a Centre of Excellence on Critical Minerals. The mission was announced in the Union Budget 2024-25 on 23 July 2024; the MMDR Act, 1957 was amended in 2023 and the Ministry of Mines has since auctioned 24 blocks of strategic minerals.
Key facts
- Approved
- 29 January 2025, Union Cabinet
- Outlay
- ₹34,300 crore over 7 years
- Split
- ₹16,300 crore govt + ₹18,000 crore PSUs etc.
- Announced
- Union Budget 2024-25, 23 July 2024
- Features
- Offshore exploration, fast-track approvals, stockpile, processing parks, CoE
- Background
- MMDR Act amended 2023; 24 strategic mineral blocks auctioned
Practice MCQs 3 questions
What is the total outlay of the National Critical Mineral Mission approved by the Union Cabinet on 29 January 2025?
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Correct answer: D — ₹34,300 crore
PIB 2097308: ₹16,300 crore government expenditure plus ₹18,000 crore expected investment by PSUs etc. makes ₹34,300 crore over seven years.
Over what period will the National Critical Mineral Mission's ₹34,300 crore outlay be spread?
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Correct answer: C — Seven years
PIB 2097308: the outlay of ₹34,300 crore is over seven years.
Consider the following statements about the National Critical Mineral Mission: 1. It was announced in the Union Budget 2024-25. 2. It proposes a national stockpile of critical minerals. 3. It excludes offshore exploration of critical minerals. Which of the statements given above is/are correct?
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Correct answer: B — 1 and 2 only
PIB 2097308: the mission was announced in the Budget on 23 July 2024 and proposes a stockpile; it will intensify exploration within the country and in its offshore areas.