The Ministry of Mines has approved 58 companies under the Incentive Scheme for Promotion of Critical Mineral Recycling as eligible for participation. The Ministry said that this is a major step towards strengthening India’s critical mineral security and promoting a circular economy.

 

The Incentive Scheme for Promotion of Critical Mineral Recycling, with a total outlay of 1,500 crore rupees, the National Critical Mineral Mission, was notified on 2nd October of last year. It aims to develop domestic recycling capacity for critical minerals from lithium-ion batteries, e-waste and industrial scrap, reducing import dependence and supporting clean energy and advanced manufacturing sectors. The Ministry said the next stage of the Scheme is project execution, where capacity development and commencement of production from the eligible entities will be considered for financial support under the Scheme.