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Cabinet approves Rs 34,300 crore for National Critical Mineral Mission

Financial incentives, fast-track approval, mineral pacts with foreign nations planned

The Ministry of Mines has directed the Geological Survey of India (GSI) to conduct a re-exploration of the 5.9 million tonnes of lithium block in Jammu and Kashmir’s (J&K’s) Reasi district after repeated setbacks to put the reserve up for auction aga
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Subhayan Chakraborty New Delhi

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Aimed at encouraging the Indian government and private companies to acquire critical mineral assets abroad, enhance trade with resource-rich countries, and establish a stockpile at home, the Cabinet on Wednesday approved the National Critical Mineral Mission at a cost of Rs 34,000 crore.
 
To be implemented by the Ministry of Mines over seven years until 2030-31 (FY31), the mission will have an outlay of Rs 16,300 crore, including Rs 2,600 crore as budgetary support. In addition, Rs 18,000 crore investment is expected from public sector undertakings (PSUs). Spanning the entire value chain across exploration, mining, beneficiation, processing, and recovery of

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