Lok Sabha passes MMDR amendment Bill allowing auction of lithium, others to pvt sector

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GST, export duty, royalty, District Mineral Foundation (DMF), National Mineral Exploration Trust (NMET) while calculating Average Sale Price (ASP) of minerals. This will restrict charge of royalty over royalty and limit tax burden on companies and improve realizations for the government in mineral concession auctions.

The changes on sale of minerals from captive mines has also been provided to do away with the existing provision where sale of 50% of minerals can commence only after the need of end use plant is meant. This provision was impacting development of mining operations as companies where end use plants were shut or still under development could not mine minerals and extraction of minerals got delayed.

The reform initiative also brings lithium out from the list of restrictive atomic mineral where permission to mine could only be granted by the Centre to government companies. The amendment has now proposed to bring 8 of 12 atomic minerals, including lithium bearing minerals, zirconium bearing minerals, beach sand minerals, Titanium bearing minerals, minerals of rare earth group containing Utanium and thorium, into a new category - critical and strategic minerals.