President of India Droupadi Murmu has given her assent to the Mines and Minerals (Development and Regulation) (MMDR) Amendment Act, 2023.
The Central government is now empowered to auction mines and ramp up production of 26 critical minerals in India. 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.
Critical minerals are of key importance in India's commitment towards energy transition and achieving net-zero emission by 2070. This is the fifth amendment to the MMDR Act, 1957 since 2014. Mandating e-auction for mineral resources, and allowing extension of mining leases which were expiring were part of the earlier changes.