Royalty for 3 critical minerals approved, stage set for mine auction

The Indian government has approved royalty rates for mining lithium, niobium, and rare earth elements (REE). The move aims to unlock domestic potential for producing materials crucial to energy transition, medical diagnostic equipment, and high-tech applications. The setting of these rates is an important step towards initiating the auction of mineral exploration blocks and mines, which is expected to attract foreign investment and facilitate technology induction.