Government Announces Royalty Rate On Mining Of Lithium, Niobuim And Rare Earth Elements

The Union Cabinet chaired by the Prime Minister Narendra Modi approved the amendment of the Second Schedule of the Mines and Minerals (Development and Regulation) Act, 1957 (‘MMDR Act’) for specifying the rate of royalty in respect of 3 critical and strategic minerals, namely, Lithium, Niobium and Rare Earth Elements (REEs).