Why in the News?
The Union Cabinet approved a ₹1,500 crore Incentive Scheme to promote recycling of critical minerals from secondary sources such as e-waste and battery scrap.
About Critical Mineral Recycling Incentive Scheme:
- Launch: Approved under the National Critical Mineral Mission (NCMM).
- Outlay: ₹1,500 crore over 6 years (FY 2025–26 to FY 2030–31).
- Objective: Build domestic recycling capacity for critical minerals (lithium, cobalt, nickel, copper, rare earths) from secondary sources.
- Rationale: Provides a near-term solution to supply chain challenges as mining projects require long lead times.
- Targets:
- 270 kilotonnes annual recycling capacity.
- 40 kilotonnes minerals yield per year.
- ₹8,000 crore investment mobilised.
- ~70,000 jobs created.
Key Features:
- Beneficiaries: Large recyclers, small/new recyclers, start-ups; one-third funds reserved for small/new entrants.
- Feedstock Sources: E-waste, lithium-ion battery scrap, catalytic converters, other industrial scrap.
- Coverage: Support for new units, as well as expansion, modernisation, and diversification of existing plants.
- Capex Subsidy: 20% subsidy on plant & machinery for timely commissioning; reduced rates for delays.
- Opex Subsidy: Tied to incremental sales over FY 2025–26 base year.
- 40% subsidy released in FY 2026–27.
- 60% subsidy released in FY 2030–31.
- Incentive Caps:
- Large entities: ₹50 crore cap (₹10 crore max for opex).
- Small entities: ₹25 crore cap (₹5 crore max for opex).
- Eligibility Restriction: Only for firms engaged in actual mineral extraction, not just intermediate “black mass” processing.
| [UPSC 2021] Consider the following statements:
I. India has joined the Minerals Security Partnership as a member. II. India is a resource-rich country in all the 30 critical minerals that it has identified. III. The Parliament in 2023 has amended the Mines and Minerals (Development and Regulation) Act, 1957 empowering the Central Government to exclusively auction mining lease and composite license for certain critical minerals. Which of the statements given above are correct? Options: (a) I and II only (b) II and III only (c) I and III only* (d) I, II and III |
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