Context:
Union Cabinet approved the launch of the National Critical Mineral Mission (NCMM).
National Critical Mineral Mission (NCMM):
- Aim: Encourage Indian PSUs and private sector companies to acquire critical mineral assets abroad and enhance trade with resource-rich countries.
- Exploration: Intensify exploration of critical minerals within the country and in offshore areas.
- Scope: Covers all stages of the value chain, including mineral exploration, mining, beneficiation, processing, and recovery from end-of-life products.
- Financial Incentives are provided for critical mineral exploration.
- Coordination: Involves relevant ministries, PSUs, private companies, and research institutions.
- Additional Measures:
- Setting up of mineral processing parks.
- Establishing centers of excellence.
- Recycling of critical minerals.
- Fast-tracking regulatory approvals for projects.
- Developing stockpiles of critical minerals.
Critical Minerals:
- A metallic or non-metallic element crucial for modern technologies, economies, and national security, with a potential risk of supply chain disruptions.
- Includes both primary and processed minerals.
- Criteria: A mineral is deemed critical when the risk of supply shortage and associated economic impact is higher than for other raw materials.
- Strategic Lists: Countries create their own critical minerals lists based on strategic needs.
- Usage:
- Essential for electronic gadgets (laptops, electric cars)
- Used in clean energy technologies (wind turbines)
- Vital for high-priority sectors (nuclear energy, renewable energy, space, defence, telecommunications, high-tech electronics)
Source: PIB
Previous Year Question
With reference to India, consider the following statements:
1. Monazite is a source of rare earths.
2. Monazite contains thorium.
3. Monazite occurs naturally in the entire Indian coastal sands in India.
4. In India, Government bodies only can process or export monazite.
[UPSC Civil Services Exam – 2022 Prelims]
Which of the statements given above is/are correct?
(a) 1, 2 and 3 only
(b) 1, 2 and 4 only
(c) 3 and 4 only
(d) 1, 2, 3 and 4
Answer: (b)