Prices In A Knot
Market macroscope: Steel rebar futures, Lithium prices, and Ethanol prices.
Market macroscope: Steel rebar futures, Lithium prices, and Ethanol prices.
The finance minister proposed to fully exempt customs duties on 25 critical minerals and reduce duty on two of them.
Mining and trade of most of the 'key energy transition minerals' such as copper, lithium, nickel, cobalt, graphite and rare earth supply chain are owned by Chinese companies.
Indian Oil is anticipating a rise in demand for batteries for two- and three-wheeler vehicles and energy storage systems in the Indian market
The government has now decided to specify a reasonable royalty rate of 2-4% on these minerals.
Battery recycling startup Lohum expects the government to reduce the goods and services tax (GST) on waste lithium-ion batteries from 18% to 5%.
The deal boosts India's quest for sourcing lithium.
The concentration of extraction or processing of such minerals in a few countries may lead to supply chain vulnerabilities, says Ministry of Mines.
Country takes steps to secure supplies of strategic lithium, cobalt, nickel, molybdenum, vanadium and light rare earth elements. But it promises to be a long and arduous journey.
One of the major reforms proposed in the Bill is the removal of "lithium-bearing minerals" from a prohibited list.