Government approves National Critical Minerals Mission with outlay of Rs.34,300 crore in 7 years

Tags: Science and Technology

Why in the news?

• The government approved aRs.16,300-crore National Critical Mineral Mission, envisaging a total outlay of Rs.34,300 crore spread over seven years.

Important points:

• with an aim to achieve self-reliance and accelerate India’s journey towards green energy transition.
• National Critical Mineral Mission aims to promote exploration of essential minerals, reduce import dependence, and ensure self-reliance in India.

What are Critical minerals ?

• Critical minerals are non-fuel minerals, elements, or substances that are essential to the economy and national security of many countries.
•  They are used in a wide range of technologies, including energy technologies, electric vehicles, and defense applications. 

Examples of critical minerals

• Copper:A key component of electricity networks and other electricity-related technologies .
• Lithium, nickel, cobalt, and manganese:Crucial to the performance of batteries .
• Rare earth elements: Essential for permanent magnets used in wind turbines and electric vehicle motors .
• Titanium minerals:Used in nuclear and defense applications .
• Zircon: Used in nuclear and defense applications .
• Monazite:A source of rare earth elements .

Why are critical minerals important?

• They are vital to the economy and national security.
• They are essential components of many of today's rapidly growing energy technologies.
• Demand for these materials is growing quickly.