Critical Mineral Mission to ramp up mining
The mission is expected to open opportunities for mining giants in India, including Aditya Birla and Vedanta, besides the companies in steel sector with mining experience like Tata Steel and JSW.
The mission is expected to open opportunities for mining giants in India, including Aditya Birla and Vedanta, besides the companies in steel sector with mining experience like Tata Steel and JSW.
The finance minister proposed to fully exempt customs duties on 25 critical minerals and reduce duty on two of them.
India taps domestic mines for critical minerals to meet infrastructure needs, economic demand and a sustainable future.
The government has now decided to specify a reasonable royalty rate of 2-4% on these minerals.
Country takes steps to secure supplies of strategic lithium, cobalt, nickel, molybdenum, vanadium and light rare earth elements. But it promises to be a long and arduous journey.
China accounts for 58% of Lithium processing which is key to new battery solutions.
Vedanta Resources chairman Anil Agarwal’s superpower is resuscitation. He has 10 examples to prove it.