India to Amend Mining Laws for Critical Mineral Supply Boost

India plans to amend the Mines and Minerals (Development and Regulation) Act to secure overseas critical mineral assets—such as lithium, copper, cobalt, and rare earths—vital for renewable energy, defence, electronics, and other strategic sectors. The changes will allow state funding from the ₹6,000+ crore National Mineral Exploration Trust (NMET) for both domestic exploration and international acquisitions, with the NMET’s mandate expanded to include “development” of critical minerals. Key provisions include: Permitting states to sell low-grade or surplus mineral stockpiles from captive mines for a one-time fee. Streamlining approvals to add newly identified minerals or adjacent areas to existing leases, with additional charges. Applying higher royalties or surcharges for minerals extracted from expanded lease areas. The amendments aim to reduce dependence on China-dominated supply chains, accelerate domestic mineral exploration, and strategically acquire overseas assets to ensure a stable and diverse supply of critical raw materials for India’s future industries.