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Cabinet approves Rs 2,814 crore scheme to boost critical mineral processing

The five-year capital subsidy targets domestic lithium and nickel plants, aiming to cut import dependence and strengthen supply chains for industry.

Photo: News18

What happened

The Union Cabinet on Wednesday approved a Rs 2,814 crore scheme to promote domestic processing of critical minerals such as lithium and nickel. News18+1 Information and Broadcasting Minister Ashwini Vaishnaw announced the decision at a press briefing. News18+1 The Capex Support Scheme to Promote Critical Mineral Processing will run for five years, from FY27 to FY31. News18+1 It will provide a capital subsidy of 30 per cent of eligible investment for setting up two lithium processing plants and two nickel processing plants. business-standard.com

Around it

The move is aimed at reducing India's import dependence and strengthening supply chain resilience. News18 The two lithium plants must have a minimum processing capacity of 30,000 tonnes each, while the two nickel plants must have a minimum capacity of 50,000 tonnes each. business-standard.com

Sources

  1. News18Cabinet Approves Rs 2,814-Crore Scheme To Boost Critical Mineral Processing In India
  2. business-standard.comCabinet approves five-year ₹2,814 cr push for critical mineral processing

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