 "Rare earth mineral mining in Inner Mongolia, China. In April, China stopped almost all shipments of critical minerals that are needed for cars, jet fighters and other technologies. | Image Credit: Reuters")
India is planning to amend the Mines and Minerals (Development and Regulation) Amendment Act 2023 to specify the use of funds currently earmarked at ₹5,600 crore for exploring critical mineral mines overseas, according to a top official.
The proposed amendments also aim to introduce a tailings policy and modify the royalty structure to facilitate the extraction of critical minerals from waste materials, the official added.
These changes are expected to advance the National Critical Minerals Mission (NCMM), which focuses on securing supplies of these strategically important minerals for commercial use. The NCMM has an allocated budget of ₹16,300 crore over
