India Revamps Critical Mineral Royalties to Boost Local Mining

India has approved changes to royalty rates for several critical minerals in an effort to enhance domestic mining capabilities and decrease the country's dependence on imports. This initiative is part of a broader strategy to strengthen the local mining sector, which is crucial for economic growth and resource security. By adjusting these rates, the government aims to incentivize exploration and production of critical minerals, thereby fostering a more self-sufficient economy.