The Union Cabinet is said to have cleared the Amendment of the Mines and Minerals (Development and Regulation) Act 1957, which will pave the way for the private sector to bid for mining critical minerals such as lithium, IANS reported.
Persons in the know said that from the list of critical minerals, a few have been brought in the proposed amendment, that will enable its mining by private players.
Besides this, the proposed amendment will also enable the Central government to auction the minerals, with royalties going to the states. The government is betting big on lithium, which is useful for batteries, especially in electric vehicles.
India is looking to harness the power of lithium with its latest findings in Jammu and Kashmir, to wean off dependence on China.