Latest news with #NationalCriticalMineralsMission
Hans India
3 days ago
- Business
- Hans India
Reforms aim to give big boost to mineral sector: Kishan
Hyderabad: Union Minister for Coal and Mines G Kishan Reddy inaugurated the National Critical Minerals Mission Outreach Forum (NCMMOF) at the Critical Minerals Processing Seminar at India Habitat Center in the national capital on Friday. During his speech at the inauguration of the forum, he mentioned that under Prime Minister Narendra Modi's leadership, several reforms have been introduced to enhance the mineral sector performance in the country. These reforms have facilitated the transparent auctioning of mineral blocks and, in turn, increased accountability. The auction process for 34 blocks has already been successfully completed. 'We are taking further steps to auction additional critical minerals. In the past three years, the Geological Survey of India (GSI) has conducted a total of 445 exploration projects focused on critical mineral extraction. Funds have been allocated for 185 projects through the National Mineral Exploration Trust. We have signed bilateral agreements with countries such as Australia, Argentina, and Chile to facilitate the extraction of minerals from abroad,' he added. Kishan Reddy said the central government company Kabil has already begun extracting minerals from 15,000 hectares of land in Catamarca province, Argentina. In January of this year, the Union Cabinet approved the National Critical Minerals Mission with an outlay of Rs 16,300 crore. Additionally, central government companies will invest an extra Rs 18,000 crore for this mission. We are focusing on the extraction of critical minerals like lithium, cobalt, and rare earth elements, which are in high demand for promoting clean energy in the country. The union minister said that by 2040, the demand for critical minerals is expected to increase by four to six times. Currently, India imports 100 per cent of these critical minerals from abroad. The mining sector is continuously striving for self-reliance in the critical minerals sector. India has now surpassed Japan to become the world's fourth-largest economy this financial year. In this context, the sector is advancing towards meeting the energy needs required to transform India into a developed nation by 2047. The National Critical Minerals Mission plays a crucial role in ensuring the country's power security. The central government has decided in this year's budget to eliminate the import duty on 12 critical minerals, including cobalt powder, lithium-ion battery scrap, and lead and zinc. Collaboration among government, private sector, public sector, and academia is crucial to strengthen the critical minerals processing industry. The National Critical Minerals Mission Outreach Forum, which launched today, aims to unite various industries within this sector. This forum will provide an opportunity to raise awareness about the critical minerals industry and its impact on power and food security in the country. He urged industry representatives to invest in the critical minerals processing sector, as their involvement will help strengthen the mining sector in India. Companies such as Coal India Limited, Hindustan Copper Limited, and Singareni need to acquire blocks both domestically and internationally to commence mining operations.
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Business Standard
4 days ago
- Business
- Business Standard
India to amend laws to allow overseas exploration of critical minerals
India will amend the Mines and Minerals Act 2023 to permit use of ₹5,600 crore for overseas critical mineral exploration and introduce a tailings policy to support extraction Puja Das New Delhi Listen to This Article India is planning to amend the Mines and Minerals (Development and Regulation) Amendment Act 2023 to specify the use of funds currently earmarked at ₹5,600 crore for exploring critical mineral mines overseas, according to a top official. The proposed amendments also aim to introduce a tailings policy and modify the royalty structure to facilitate the extraction of critical minerals from waste materials, the official added. These changes are expected to advance the National Critical Minerals Mission (NCMM), which focuses on securing supplies of these strategically important minerals for commercial use. The NCMM has an allocated budget of ₹16,300 crore over
Business Upturn
4 days ago
- Business
- Business Upturn
Gravita India shares jump over 2% as India's critical minerals recycling policy nears final approval
By Aditya Bhagchandani Published on June 6, 2025, 12:02 IST Shares of Gravita India Ltd rose 2.29% to ₹1,872.60 on Friday after reports indicate that India's much-anticipated incentive scheme for recycling essential minerals is in the final stages of government approval. The development, seen as a strategic push to strengthen India's resource independence, sparked renewed investor interest in companies involved in circular economy and sustainability. GRAVITA IN FOCUS INDIA'S INCENTIVE SCHEME FOR RECYCLING CRITICAL MINERALS IN FINAL STAGES OF APPROVAL – GOVT DOCUMENT — RedboxGlobal India (@REDBOXINDIA) June 6, 2025 The policy aligns with the National Critical Minerals Mission (NCMM) and aims to reduce India's heavy reliance on imported key battery metals like lithium, cobalt, and nickel—particularly from China. As the electric vehicle (EV) and energy storage sectors expand rapidly, the policy is expected to play a crucial role in building a resilient domestic recycling ecosystem. Gravita India, a leading player in recycling and sustainable materials, is seen as a potential beneficiary of this move. With a market cap of ₹134.40 billion and a track record in metal recovery and reuse, the company stands well-positioned to tap into the opportunities presented by the upcoming policy shift. This development could enhance long-term opportunities in the recycling sector and lift valuations for companies focused on sustainable resource recovery and supply chain localisation. Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information. Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
Hindustan Times
7 days ago
- Business
- Hindustan Times
From battery waste to energy independence: India's critical minerals opportunity
India's fast-growing electric vehicle (EV) and energy storage sectors offer a tremendous opportunity: transforming battery waste into a strategic resource to reduce dependence on imported critical minerals. Despite having a vast domestic market, India still heavily relies on imports—especially from China—for key battery materials like lithium, cobalt, and nickel. As demand for these metals surges toward 2030, India stands at a crucial crossroads to build a robust recycling ecosystem aligned with the National Critical Minerals Mission (NCMM), positioning itself for long-term energy security and sovereignty. Critical minerals are essential to modern technologies—from EVs and smartphones to renewable energy and defence systems. But with global supply chains heavily dominated by China, India faces significant geopolitical risks. China's control over mineral processing and its tightening export regulations have exposed vulnerabilities in India's energy transition roadmap. In response, India has adopted a comprehensive strategy covering 30 critical minerals: boosting domestic exploration, acquiring overseas resources, and ramping up recycling infrastructure. Backed by a ₹34,300 crore investment, the NCMM seeks to strengthen local supply chains, foster research and development (R&D), and establish strategic reserves both domestically and internationally. Although India has large mineral reserves, only a fraction has been explored. This untapped potential offers a compelling opportunity for global partnerships and investments. India possesses reserves of critical minerals such as copper and potentially cobalt, and unlocking these in an efficient, sustainable manner could bolster the global supply chain. To ensure recycled materials play a pivotal role, India has introduced policies like Extended Producer Responsibility (EPR) and the Battery Waste Management Rules (BWMR) 2022. These mandates require producers to meet escalating annual recycling targets for lithium-ion batteries, thereby reintegrating recovered metals into the production cycle. India is witnessing a gradual shift from informal to formal battery recycling. According to BDO India, domestic recyclers could supply up to 48% of the country's lithium-ion battery demand by 2030. This transition is powered by growing private investments and policy incentives, including tax exemptions on critical mineral imports and urban mining initiatives announced in the 2025 Union Budget. End-of-life batteries are a rich source of lithium, cobalt, and nickel—metals that are becoming increasingly scarce. Tapping into this resource pool is essential to narrowing the supply-demand gap and achieving energy transition targets. As global demand for critical minerals is expected to hit $80 billion by 2040 (IEA), countries worldwide—including Japan, Canada, Australia, and EU members—are actively building resilient supply chains. India's global alliances, such as the India-US Initiative on Critical and Emerging Technologies (iCET) and its partnership with Australia on critical minerals research (IACMRP), underscore the importance of international collaboration. Interestingly, several minerals—like lithium, cobalt, nickel, and vanadium—are listed as critical by multiple major economies, reinforcing the need for collective recycling strategies and global coordination. Despite promising initiatives, India faces several execution hurdles: India's strategy includes short-, mid-, and long-term goals: Recycling battery waste could save India billions in imports, create substantial employment in urban mining, and cement its status as the recycling hub of the Global South. Public Sector Undertakings (PSUs) such as KABIL, ONGC Videsh, and Coal India are playing a critical role in acquiring overseas assets, while the NCMM's funding drives domestic integration. However, India's funding still lags global benchmarks. The European Union (EU) has proposed a €10 billion fund, and the US has allocated $400 billion through the Inflation Reduction Act. Scaling India's commitment over time will be essential to strengthening recycling infrastructure, driving R&D in hydrometallurgy, and integrating informal workers through IoT-linked systems. To unlock the full potential of battery recycling, India must overcome regulatory, technological, and financial hurdles while accelerating domestic capability building. A phased strategy—driven by AI, supported by global alliances, and backed by policy—can convert India's battery waste burden into an economic and strategic asset. With the right blend of vision, partnerships, and innovation, India can turn its critical minerals challenge into a sustainable competitive advantage—ensuring energy sovereignty and a resilient green-tech future. This article is authored by Chetan Jain, senior vice president – business operations, LOHUM.
Time of India
19-05-2025
- Business
- Time of India
IMMT signs pact for research on critical minerals, sustainable mining
1 2 Bhubaneswar: The Institute of Minerals and Materials Technology (CSIR-IMMT) here on Monday signed a memorandum of understanding (MoU) with NTPC Mining Limited to pursue research initiatives of direct interest and those related to coal, mineral processing and extraction industry, including critical minerals. As part of the collaboration, the NTPC delegation visited CSIR-IMMT's critical minerals technology development facilities and deliberated on focused research and development and technological collaboration on critical minerals vital for Atmanirbhar Bharat and Viksit Bharat. NTPC Mining CEO Naveen Jain said the MoU is a significant milestone in its journey towards building a future-ready, environmentally responsible and innovation-led mining enterprise. "The collaboration directly aligns with our vision to be a benchmark organisation in safe, sustainable and efficient mining through technological excellence and environmental stewardship. By combining NTPC Mining's operational strength with CSIR-IMMT's cutting-edge research capabilities, we aim to drive transformative improvements in mine planning, mineral beneficiation and sustainable mine closure practices," he added. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Giao dịch Bitcoin và Ethereum - Không cần ví! IC Markets BẮT ĐẦU NGAY Undo Ramanuj Narayan, director of CSIR-IMMT, said the collaboration comes at a moment when India advances its efforts under the National Critical Minerals Mission. "NTPC Mining's growing role in resource security and its forward-looking approach to diversifying into critical minerals aligns well with our mandate to deliver science-led, scalable solutions to industry," he added. "At CSIR-IMMT, we have been steadily building infrastructure and capabilities to support the development and deployment of technologies in this space. Partnerships with industrial stakeholders are essential for translating research into impact, particularly when it comes to scaling up and commercial readiness. We are confident that the MoU will help catalyse technology-driven outcomes that contribute meaningfully to national priorities in critical minerals for sustainable development," he added. NTPC Mining Ltd supplied nearly 15% of NTPC's coal requirement in FY 2024–25, with production of over 134 million tonnes since its inception in 2018.
