Centre fixes 3% royalty rate for lithium, niobium

New Delhi, October 11 The Centre on Wednesday approved royalty rates of 3 per cent each for lithium and niobium and 1 per cent for rare earth elements (REE). The decision on the royalty rates for the three critical and...

Tribune News Service

Updated At : 11:22 AM Oct 12, 2023 IST

New Delhi, October 11

The Centre on Wednesday approved royalty rates of 3 per cent each for lithium and niobium and 1 per cent for rare earth elements (REE). The decision on the royalty rates for the three critical and strategic minerals was taken by the Union Cabinet chaired by PM Narendra Modi.

The royalty rate approval will enable the Centre to auction lithium, niobium and REE blocks for the first time in the country, an official statement said, adding “if the royalty rate for lithium, niobium and REE is not specifically provided, their default royalty rate would be 12 per cent of average sale price.”

Centre fixes 3% royalty rate for lithium, niobium

Tribune News Service

Live Matches