Cabinet greenlights royalty rates for 12 vital minerals

06 Mar 2024 CW Team

According to an official statement, the rationalisation of royalty rates for all 24 critical and strategic minerals has been completed. In March 2022, the centre notified the royalty rates for four critical minerals - Glauconite, Potash, Molybdenum, and Platinum Group of Elements (PGE). The approval for royalty rates for Lithium, Niobium, and Rare Earth Elements (REE) was granted in October 2023.

The rate rationalization aligns with efforts to auction critical and strategic mineral mines in the country. Minister for Coal and Mines, Pralhad Joshi, commented on the development, stating that the rationalisation of royalty would facilitate increased participation of investors in the auction and leasing of mines, leading to a boost in mining and mineral processing.

Joshi emphasized the significant benefits reaped by states through mineral sector reforms, citing remarkable earnings growth. For instance, Odisha witnessed an 860% increase in earnings from 2015-16 to 2022-23. Over the span of eight years, Chhattisgarh's earnings grew by 620%, Jharkhand's by 425%, and Karnataka's by 316%.

The royalty rate on minerals holds considerable financial importance in the bidding process. The Ministry of Mines has also formulated the method for calculating the average sale price (ASP) of these minerals, facilitating the determination of bid parameters.

In addition to the ongoing auction of 20 mines, the centre invited bids for another 18 critical and strategic mineral blocks under a second tranche. Out of these, 17 mineral blocks are available for the grant of a Composite License, while one mineral block is designated for the grant of a Mining Lease.

It was announced by the Union Cabinet that royalty rates for 12 critical and strategic minerals had been set by amending the Mines and Minerals (Development and Regulation) Act, 1957 (MMDR Act). The Second Schedule of the MMDR Act underwent changes to incorporate Beryllium, Cadmium, Cobalt, Gallium, Indium, Rhenium, Selenium, Tantalum, Tellurium, Titanium, Tungsten, and Vanadium. The royalty rate for these minerals has been fixed at 2-4%, a decrease from the previous 12% applicable to all unlisted minerals. According to an official statement, the rationalisation of royalty rates for all 24 critical and strategic minerals has been completed. In March 2022, the centre notified the royalty rates for four critical minerals - Glauconite, Potash, Molybdenum, and Platinum Group of Elements (PGE). The approval for royalty rates for Lithium, Niobium, and Rare Earth Elements (REE) was granted in October 2023. The rate rationalization aligns with efforts to auction critical and strategic mineral mines in the country. Minister for Coal and Mines, Pralhad Joshi, commented on the development, stating that the rationalisation of royalty would facilitate increased participation of investors in the auction and leasing of mines, leading to a boost in mining and mineral processing. Joshi emphasized the significant benefits reaped by states through mineral sector reforms, citing remarkable earnings growth. For instance, Odisha witnessed an 860% increase in earnings from 2015-16 to 2022-23. Over the span of eight years, Chhattisgarh's earnings grew by 620%, Jharkhand's by 425%, and Karnataka's by 316%. The royalty rate on minerals holds considerable financial importance in the bidding process. The Ministry of Mines has also formulated the method for calculating the average sale price (ASP) of these minerals, facilitating the determination of bid parameters. In addition to the ongoing auction of 20 mines, the centre invited bids for another 18 critical and strategic mineral blocks under a second tranche. Out of these, 17 mineral blocks are available for the grant of a Composite License, while one mineral block is designated for the grant of a Mining Lease.

Resources

09 Mar 2026

Haworth India Hosts Women’s Leadership Panel Series

Haworth India marked International Women’s Day by hosting a leadership roundtable series titled ‘Give to Gain’, bringing together senior women leaders from architecture and design firms, corporates and project management consultancies. The series has been conducted in Delhi and Mumbai, with upcoming sessions scheduled in Bengaluru and Hyderabad on 27 March 2026. Structured as moderated panel discussions followed by audience interaction, the initiative examined the business impact of women’s leadership and the role of inclusive workplaces in supporting professional growth. Manish Khan..

Real Estate

09 Mar 2026

Max Estates Secures RERA For Max One Project

Max Estates has secured RERA approval (UPRERA No.: UPRERAPRJ9759) for its Max One development around Max Towers in Sector 16B, Noida, bringing renewed progress to a project previously stalled following the insolvency of its earlier developer. Spread across around 10 acres with an estimated development potential of about 2.5 million sq ft, Max One is planned as an integrated mixed-use campus combining serviced residences, premium offices, retail spaces and a private club. The project is expected to generate total sales potential of about Rs 20 billion along with an estimated annuity rental inc..

Real Estate

09 Mar 2026

Hindware Introduces Starc Smart Wall Mount Toilet

Hindware has introduced the Starc Smart Wall-Mount Toilet under its Hindware Italian Collection, designed to combine automation, hygiene and contemporary bathroom aesthetics. The model features automatic flushing, sensor-based seat opening and closing, and remote-controlled functions. It also includes an oscillating water spray and warm air dryer for cleaning, along with a self-cleaning nozzle designed to maintain hygiene. Additional features include adjustable heated seating, customisable water temperature and pressure settings, a foot-touch flush system and an LCD control interface. The wa..