New Delhi, 11/10: The Centre on Wednesday said it has approved royalty rates of 3 per cent each for lithium and niobium and 1 per cent for Rare Earth Elements (REEs)
The decision on the royalty rates for the three critical and strategic minerals was taken by the Union Cabinet chaired by Prime Minister Narendra Modi, according to an official statement. The royalty rate approval by the Cabinet will enable the Central government to auction lithium, niobium and REEs blocks for the first time in the country, it said.