Ministry of Mines issues guidelines for Rs 1,500 crore critical mineral recycling incentive scheme

New Delhi [India], October 4 (ANI): Following approval of the Rs 1,500 crore Incentive Scheme for promotion of Critical Mineral Recycling by the Union Cabinet on September 9, the Ministry of Mines issued the Scheme Guidelines on October 2 for implementation of the said incentive scheme.
The Guidelines provide the scheme modalities, including indicative outlays for recycling systems, methodology for incentive allocation, application, evaluation and disbursement procedures, institutional mechanism, and performance review, an official release said.
The Guidelines have been finalised after detailed consultation with industry and other relevant stakeholders.
The incentive scheme is a key component of the National Critical Mineral Mission, and is aimed at developing the recycling capacity in the country for separation and production of critical minerals from secondary sources.
Eligible feedstock source is e-waste, spent Lithium-ion Batteries (LiB), and other scrap material. Expected beneficiaries will be both large & established recyclers, and small & new recyclers (including start-ups).
The Scheme will be applicable to investments in new units as well as expansion of capacity / modernization and diversification of existing units. The Scheme incentives will be meant for the recycling value chain which is into the actual extraction of critical minerals, and not the value chain involved in only black mass production. The modalities of the scheme are provided in detail in the Scheme Guidelines.
Pursuant to the issue of the detailed Guidelines, the Scheme is now open for applications effective October 2 for a period of six months. The Scheme Guidelines and the link to apply are available on the Ministry of Mines' website, the release said. (ANI)