Cabinet Approves New Royalty Rates for Critical Minerals

The Union Cabinet, led by Prime Minister Narendra Modi, has approved the rationalization of royalty rates for critical minerals including Graphite, Caesium, Rubidium, and Zirconium. The new rates aim to promote the auction of mineral blocks, enhance indigenous production, reduce imports, and create employment opportunities. The royalty for Graphite will now be charged on an ad valorem basis, reflecting price changes across grades. These minerals are essential for high-tech applications and energy transition, with Graphite being crucial for electric vehicle batteries.

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