In a significant move to bolster economic development and enhance national security, the Centre on Wednesday introduced a Bill seeking to grant exploration licence to private sector players for deep-seated and critical minerals.
The Mines and Minerals (Development and Regulation Amendment) Bill, 2023, paves the way for private sector participation in the exploration of critical minerals.
It also empowers the Centre to conduct exclusive auctions for mining lease and composite licences dedicated to certain crucial minerals, including lithium, cobalt, gallium, tantalum and tungsten, among others.
According to the statement of objects and reasons of the Bill, the amendments “would facilitate, encourage and