India moves to boost critical minerals production! Cabinet approves rationalization of royalty rates; to counter China’s monopoly & export restrictions

In a move aimed at boosting the production of critical minerals in the country, PM Narendra Modi-led Union Cabinet on Wednesday approved the rationalization of royalty rates of graphite, caesium, rubidium and circonium minerals. These minerals are critical for green energy needs. The move comes at a time when China, which holds the world monopoly in critical minerals production, is increasingly imposing export restrictions. The decision aims to facilitate the auctioning of mineral blocks containing caesium, rubidium and zirconium, which will unlock these resources along with associated critical minerals such as lithium, tungsten, REES, niobium and others. The implementation of ad valorem-based royalty rates for graphite will accurately reflect price variations across different