National Critical Mineral Mission (NCMM)
The National Critical Mineral Mission was announced in the Union Budget 2024-25 (July 23, 2024) and formally approved by the Union Cabinet on January 29, 2025, with an outlay of Rs. 34,300 crore over seven years (FY2024-25 to FY2030-31). The mission encompasses all stages of the critical mineral value chain — exploration, mining, beneficiation, processing, and recovery from end-of-life products.
- Budget: Rs. 16,300 crore government funding + Rs. 18,000 crore expected from PSU investments = Rs. 34,300 crore total.
- The Geological Survey of India (GSI) has been tasked with conducting 1,200 exploration projects over the mission period.
- More than 100 critical mineral blocks are set to be auctioned, with exploration expanding to offshore regions rich in polymetallic nodules containing cobalt, rare earth elements, nickel, and manganese.
- Union Budget 2026-27 announced dedicated Rare Earth Corridors across Odisha, Kerala, Andhra Pradesh, and Tamil Nadu.
- Rs. 7,280 crore Rare Earth Permanent Magnet (REPM) Manufacturing Scheme approved in November 2025.
- India has domestic reserves of 8.52 million tonnes of rare earth elements, but processing capacity remains limited.
● Tracked since February 10, 2026 · last seen August 14, 2026 · updates as the daily brief publishes
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