Coal and Mines Minister G. Kishan Reddy announced that critical minerals are becoming central to the modern economy. The Indian government aims to capitalize on this global opportunity with the introduction of the National Critical Mineral Mission.
Outlined in the Union Budget for 2024-25, the mission will focus on domestic production, recycling of critical minerals and securing international mineral assets. Its scope includes technology development, building a skilled workforce, establishing an extended producer responsibility framework, and creating effective financing mechanisms.
At a national seminar organized by the Mining, Geological, and Metallurgical Institute of India, Reddy highlighted the government’s transformative approach in the coal and minerals sector, emphasizing increased transparency and competitiveness. Over the past decade, significant reforms have included the introduction of a commercial auction regime for coal and mineral blocks and the promotion of private sector partnerships.
Critical minerals such as cobalt, copper, lithium, nickel, and rare earth elements are essential for clean energy technologies, including wind turbines and electric vehicles. The government has already auctioned 14 critical mineral mines to support this growing demand.
