Cabinet approves amendments to Mines and Minerals Act, giving lithium mining a boost

economictimes.indiatimes.com:

Cabinet approved amendments to the Mines and Minerals (Development and Regulation) Act, 1957, on July 12, allowing for mining of lithium and other minerals, ET Now reported citing sources. Lithium, one of the most prominent minerals in the EV era, is expected to get a sizeable boost from the new changes. ET had earlier reported that the government was planning to amend the the act to encourage exploration of deep-seated minerals such as lithium, gold, silver, copper and zinc.

This is the fifth amendment to the Mines and Minerals (Development and Regulation) Act since 2014, with earlier changes mandating e-auction for mineral resources and allowing extension of mining leases which were expiring. The amendment proposed to insert the provision of an exploration licence in the law which will be granted through auction for undertaking reconnaissance and prospecting operations, according to an official. Companies will be allowed to suggest areas they want to explore, and eventually mine in India, as per the changes.

This is a deviation from the usual practice where blocks or mines are defined by the government to be taken up for auction. The licence will also be granted only for deep-seated and critical minerals that will be specified in a new schedule to the Act, said the official. Such minerals include copper, tellurium, selenium, lead, zinc, cadmium, indium, gold, silver, diamond, rock phosphate, apatite, potash, and elements of the rare earth group.