New Delhi, Jan. 30 -- On Wednesday, India's cabinet approved a national critical mineral mission. With an outlay of Rs.34,300 crore, its aim is to strengthen India's supply chain for key minerals and achieve self-reliance. The Centre is expected to put in Rs.16,300 crore of that sum, with the rest to be raised by public sector units and others.

The plan, as announced in the budget speech made in July 2024 by finance minister Nirmala Sitharaman, will cover mineral exploration, mining, processing and recycling. The acquisition of mineral assets abroad is also part of what is envisaged. Argentina, Australia and Chile are reported to be among the countries where India may try to acquire assets.

With the world headed for a period of geopolit...