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Informist, Saturday, Feb. 1, 2025

HYDERABAD – Terming the mining sector as one of the six sectors that need transformative reforms in the next five years, the government Saturday said it will bring a new policy for critical minerals. Presenting the Union Budget for 2025-26 (Apr-Mar), Finance Minister Nirmala Sitharaman said a policy for recovery of critical minerals from tailings will be brought out.

As per the release issued by the ministry of coal and mining in 2023, the government released 30 minerals as critical, including copper, graphite, lithium, nickel, platinum group elements, phosphorous, potash, rare earth elements and silicon. Ministry of Mines has increased focus on exploration of these minerals in the country through the Geological Survey of India and other agencies.

The mining sector reforms, including those for minor minerals, will be encouraged through sharing of best practices and the institution of a State Mining Index, Sitharaman said.

The government also proposed to fully exempt cobalt powder and waste, the scrap of lithium-ion battery, lead, zinc and 12 more critical minerals from basic customs duty. This will help secure their availability for manufacturing in India and promote more jobs for our youth, Sitharaman said.  End

Reported by Narayana Krishna

Edited by Deepshikha Bhardwaj

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