New Delhi, Nov. 13 -- The Union Cabinet of India, led by Prime Minister Narendra Modi, has approved the rationalization of royalty rates for four critical minerals: graphite, caesium, rubidium, and zirconium.

Caelium and rubidium will each incur a 2% royalty based on the average sale price, zirconium will have a 1% rate, and graphite will attract 2% for ore with 80% or more fixed carbon and 4% for ore with less than 80%.

This rationalization aims to promote the auction of mineral blocks containing these minerals, reduce import dependency, and create jobs. The minerals are vital for high-tech applications, including electric vehicle batteries and various industrial uses, with significant imports currently occurring for graphite, where In...