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Cabinet approves royalty rates for mining of Lithium, Niobium and Rare Earth Elements

Cabinet approves royalty rates for mining of Lithium, Niobium and Rare Earth Elements

Oct 12, 2023, at 05:35 am

New Delhi: The Union Cabinet chaired by Prime Minister Narendra Modi approved the amendment to the Second Schedule of the Mines and Minerals (Development and Regulation) Act, 1957, also known as the MMDR Act, for specifying the rate of royalty in respect of three critical and strategic minerals, namely, Lithium, Niobium and Rare Earth Elements (REEs), the Ministry of Mines said.