Cabinet approves subsidy policy for critical minerals
New Delhi, Sept. 4 -- The Union Cabinet has approved a Rs.1,500 crore incentive scheme that earmarks subsidies to companies that recycle critical minerals from secondary sources such as e-waste, discarded lithium ion batteries and catalytic converters, a government statement said.
The incentive scheme is part of the National Critical Mineral Mission (NCMM). Global supply chains for critical minerals, used in the manufacture of semiconductors, power cells, automobile parts, defence equipment etc , were upended after China in April suspended exports of a wide range of these minerals. The scheme, which will run for six years starting this fiscal year, will give a 20% subsidy on capital expenditure for companies starting production within a spe...
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