Cabinet Approves National Critical Mineral Mission

25 Mar 2025 CW Team

The Union Cabinet has approved the National Critical Mineral Mission (NCMM) on January 29, 2025. The NCMM aims to secure a long-term sustainable supply of critical minerals and strengthen India鈥檚 critical mineral value chains encompassing all stages from mineral exploration and mining to beneficiation, processing, and recovery from end-of-life products. The NCMM components also include 鈥榠ncreasing domestic critical mineral production鈥� and 鈥楢cquisition of Critical Mineral Assets abroad鈥�.

For acquisition of overseas mineral assets, the Ministry of Mines has established a joint venture company, Khanij Bidesh India Ltd. (KABIL). KABIL has signed an Exploration and Development Agreement with CAMYEN, a state-owned enterprise of Catamarca province of Argentina, for exploration and mining of five Lithium Brine Block in Argentina in an area of 15703 Ha.

Further, an MoU has been signed between KABIL and Critical Mineral Facilitation Office (CMFO), Department of Industry, Science and Resources (DISER), Government of Australia for carrying out joint due diligence and further joint investment in Li & Co mineral assets of Australia.

NCMM has provision of critical mineral processing parks for which there is budget provision of Rs. 500 Crore. Further, there is also budget provision of Rs. 1500 crore for recycling. In addition, there are also provisions for skill development and R&D activity support.

The governance framework of NCMM includes an Empowered Committee chaired by the Cabinet Secretary with CEO of NITI Aayog and Secretaries of other stakeholder Ministries as members.

Technology

14 May 2025

HCL-Foxconn to invest Rs 37 billion in chip plant near Jewar airport

The Union Cabinet has approved the establishment of a new semiconductor unit near Jewar airport in Uttar Pradesh under the India Semiconductor Mission. This sixth plant, a joint venture between HCL and Foxconn, marks further progress in India鈥檚 semiconductor journey. The project will see an investment of Rs 37 billion.The facility will produce display driver chips for mobile phones, laptops, automobiles, PCs, and other digital devices. It is designed for a monthly capacity of 20,000 wafers and an output of 36 million units.Five semiconductor units are already in advanced stages of constructi..

Real Estate

14 May 2025

Brigade acquires Velachery land for Rs 16-billion project

Brigade Enterprises has acquired a 5.41-acre land parcel on Velachery Road, Chennai, through an outright purchase for Rs 4.417 billion. Located next to Phoenix Market City, the site will be developed into a premium residential project with a gross development value of approximately Rs 16 billion and a development potential of 0.8 million square feet.The project offers strategic access to both the OMR IT Corridor and Chennai鈥檚 Central Business District, promising strong connectivity and premium lifestyle offerings. Brigade plans to create signature residences focused on aesthetics, functional..

Equipment

14 May 2025

Liebherr marks 10,000th XPower wheel loader milestone

Liebherr-Werk Bischofshofen has rolled out its 10,000th XPower wheel loader, marking a major production milestone. The anniversary L 580 XPower model, featuring a power-split travel drive developed with ZF Friedrichshafen AG, was handed over to the BERGER Group in Passau.鈥淭he transmission from our partner ZF is a key component of the drivetrain in our XPower wheel loaders,鈥� said Gerhard Pirnbacher, Head of Quality Management at Liebherr. 鈥淲ith an impressive total of around 64 million operating hours already clocked up by XPower models, this transmission has proven its exceptional robustn..