The government, he said, will focus on global R&D collaboration along the critical minerals value chain.
To encourage participation by Indian public and private sector companies in acquiring assets abroad, the government will provide targeted subsidies for mining and for setting up evacuation infrastructure.
The Ministry of Mines will work closely with the Ministry of Foreign Affairs to support the development of mineral evacuation infrastructure.
Union Budget 2024-25 had proposed launching a Critical Mineral Mission for domestic production, recycling of critical minerals and overseas acquisition of critical mineral assets.
The Critical Minerals Mission aims to protect the country’s critical minerals supply chain by ensuring availability of minerals from domestic and foreign sources. It also aims to strengthen value chains by enhancing technological, regulatory and financial ecosystems to foster innovation, skills development and global competitiveness in mineral exploration, extraction, beneficiation, processing and recycling.
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