This is the fifth amendment to the MMDR Act, 1957 since 2014.The Central government is now empowered to auction mines and ramp up production of 26 critical minerals in India.President of India Droupadi Murmu has given her assent to the Mines and Minerals (Development and Regulation) (MMDR) Amendment Act, 2023.Moreover, the output for lithium, cobalt, and graphite is likely to up, as supply of these minerals are expected to meet the demand in various segments such as electric vehicles (EVs), batteries, and critical equipment.Mandating e-auction for mineral resources, and allowing extension of mining leases which were expiring were part of the earlier changes.
⚡ News
⚡ News