Government Launches Critical Mineral Mission to Boost Domestic Output and Sustainability

The government has announced a new Critical Mineral Mission to enhance domestic production, recycling, and acquisition of essential minerals such as copper and lithium. Additionally, the mission will focus on offshore mining block auctions and support technology development, skilled workforce training, and financing mechanisms to drive the clean energy transition.

The government on Tuesday proposed to launch a mission aimed at giving a significant boost to the domestic output of critical minerals like copper and lithium. This initiative will also focus on the recycling and acquisition of such assets abroad.

Presenting the Union Budget for 2024-25, Finance Minister Nirmala Sitharaman announced plans to auction the first round of offshore mining blocks. Critical minerals, including copper, lithium, nickel, cobalt, and rare earth elements, are indispensable in various rapidly growing clean energy technologies, from wind turbines to electric vehicles.

As demand for these minerals rises due to the accelerating clean energy transition, the Critical Mineral Mission aims to increase domestic production, foster recycling, and acquire overseas assets. Its mandate includes technology development, establishing a skilled workforce, and creating a suitable financing mechanism. The government is set to launch offshore block auctions to bolster its exploration efforts.

(With inputs from agencies.)