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India


Cabinet approves royalty rates for mining of 12 critical minerals

Cabinet approves royalty rates for mining of 12 critical minerals

New Delhi, Feb 29 (UNI) Continuing its policy of specifying royalty rates for minerals, the Government has approved a proposal specifying rate of royalty in respect of 12 critical and strategic minerals -- Beryllium, Cadmium, Cobalt, Gallium, Indium, Rhenium, Selenium, Tantalum, Tellurium, Titanium, Tungsten and Vanadium.
This completes the exercise of the rationalisation of royalty rates for all 24 critical and strategic minerals, an official release said on Thursday after the Union Cabinet meeting chaired by the Prime Minister Narendra Modi.
It may be noted that the Government had notified the royalty rate of 4 critical minerals -- Glauconite, Potash, Molybdenum and Platinum Group of Minerals on 15th March, 2022 and of 3 critical minerals -- Lithium, Niobium and Rare Earth Elements on 12th October, 2023.

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