Rs 34,000 crore National Critical Minerals Mission approved by Cabinet

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Rs 34,000 crore National Critical Minerals Mission approved by Cabinet - Business Standard

Quick Summary:

The Centre has targeted 1,200 exploration projects to be auctioned by FY31, alongside more than 100 blocks of critical mineral resources.

The Mines and Minerals (Development and Regulation) Act, 1957, was amended in 2023 to give the sector an impetus, with the Mines Ministry subsequently auctioning off 24 of the 49 strategic mineral blocks it had offered for bidding.

The mission includes provisions for setting up mineral processing parks and supporting the recycling of critical minerals.