The approval of royalty rates clears the way for the government to auction lithium, niobium and RRE blocks for the first time. These minerals have a wide range of uses including in batteries, electronics and aerospace.
Critical minerals are increasingly playing a crucial role in economic development and energy security. Their importance has surged as India pursues an aggressive energy transition plan that aims to achieve net-zero emissions by 2070. Promoting domestic mining would reduce reliance on imports and stimulate the establishment of related industries and infrastructure projects and also fostering jobs within the mining sector.
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