Policy soon to recoup critical minerals from byproducts
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In her budget speech on Saturday, finance minister Nirmala Sitharaman said import duty relaxations and policy interventions will help secure critical mineral availability for manufacturing in the country and promote job creation.
Coal and mines minister G Kishan Reddy said the announcement of a 'tailings policy' bolsters the objectives of the National Critical Mineral Mission. «This policy will enhance domestic availability, strengthening our strategic industries, including clean energy, semiconductors, defence and space,» the minister said.
Sitharaman also announced concessions for import of metal scrap to support the domestic recycling industry.
A statement from the mines ministry said elimination of import duty on non-ferrous metal scrap and critical mineral scrap, including cobalt powder and lithium-ion battery (LIB) scrap, is a «game-changer». «These measures will enhance the competitiveness of our secondary metal and critical mineral recycling industries, reduce production costs and stimulate new investments in advanced recycling technologies,» the statement said.
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