On Friday, the Lok Sabha passed the Mines and Mineral (Development and Regulation) Amendment Bill, 2023, which will grant access to India’s strategic lithium reserves to the private sector. The bill removes lithium and five other atomic minerals from the prohibited category, allowing private companies to mine them. This includes minerals like beryllium, niobium, titanium, tantalum, and zirconium.
Until now, all 12 atomic minerals were reserved for state-owned entities for mining and exploration. The amendment will significantly boost private sector participation in the exploration and mining of these minerals, which are crucial in various industries such as space, electronics, communications, energy, and electric batteries, supporting India’s net-zero emission commitment.
However, the mining of beach sand minerals like ilmenite, rutile, leucoxene, garnet, monazite, zircon, and sillimanite will continue to be reserved for public-sector undertakings, as clarified by Union Minister for Coal and Mines, Pralhad Joshi.
Despite the passage of the bill, some opposition members expressed concerns over allowing the private sector to mine beach sand minerals, citing potential environmental and national security implications. Nevertheless, the amendment is seen as a game-changer for India, as it opens up strategic mineral resources for private investments and development.
Post Your Comments