Boosting Domestic Mining Under ₹16,300 Crore NCMM
- India plans to ramp up critical mineral auctions under the National Critical Mineral Mission (NCMM), with a target to auction more blocks before 2031.
- So far, 24 mineral blocks have been auctioned, while more are in the pipeline to reduce the import dependence.
- Public-Private Partnerships (PPP) need to play an important role in accelerating the exploration and extraction.
- ₹18,000 Crores of investment from the public sector is proposed to strengthen the domestic mineral supply chain.
Tapping Hidden Resources: The Mine Waste and Tailings Processing
- With high grade natural reserves being limited, India will treat mine waste and tailings as a critical mineral alternative.
- Tailings thus become secondary but certainly worth their weight in lithium, nickel, cobalt, graphite, and rare earth elements (REEs).
- The same tenet is in synchronization with global trends for sustainable mining and circular economy practice.
Overview of India’s Critical Mineral Reserves
- Lithium: 12.3 million tonnes-Critical for EV batteries and storage of renewable energy.
- Nickel: 189-194 million tonnes-Used in the making of stainless steel and batteries.
- Cobalt: 45 million tonnes-Important in lithium-ion batteries.
- Graphite: 211-244 million tonnes-Critical for electrodes and energy storage applications.
- Rare Earth Elements (REEs): 230 million tonnes-Required for high-tech applications like defence and electronics.
Challenges that Hinder India’s Mineral Aspirations
- Shortage of high-quality reserves for key minerals like cobalt, niobium, germanium, and rhenium.
- Scanty exploration data stumbles possibilities for investment: of the 49 EMR blocks, 24 still remain unauctioned.
- Technical and economic bottlenecks: Many deposits are too deep for the mining technologies in vogue, thus making the process costly and unviable.
Indian Strategy for Mineral Self-Sufficiency
- More aggressive mine auctions, with a focus on improved exploration data to attract global and domestic investors.
- Investment in advanced mining technologies would allow for the economic extraction of deep-seated deposits.
- Strengthen global partnerships in securing mineral supplies and refining capabilities.
- Establishing a robust critical mineral value chain that will help India in the EV and renewable energy and defence sector.
Thanks to strategic investments, technology-driven exploration and extraction, and policy backing, India is getting ready to become a key player in the
