The Indian government has reportedly decided to impose a 3% royalty fee for lithium mining companies based on London Metal Exchange (LME) prices. Two unidentified government sources have confirmed the decision, which comes after India discovered its first lithium deposits in Jammu and Kashmir earlier this year. The government is expected to auction the blocks, which have a reserve of 5.9 million tonnes, later this year. At least 12 domestic and foreign companies, including Adani Enterprises, Himadri Chemicals, Jindal Steel and Power, Reliance Industries, Vedanta and Korea’s LX International, are likely to participate in the auction, according to the sources.
India Proposes 3% Lithium Mining Royalty Based on LME Price: Government Sources
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