Overview

• The bill creates competitive five-year exploration licences for 29 strategic minerals, allows surveys over up to 1,000 sq km and requires state-run mining lease auctions within six months of proven reserves, with licence holders sharing auction proceeds.
• It mandates the launch of electronic mineral and metal trading exchanges to enable real-time platform trading, curb cartelisation and attract investment.
• The National Mineral Exploration Trust will be reconstituted as the National Mineral Exploration and Development Trust with enhanced funding mandates and powers to acquire critical mineral assets overseas.
• Government officials say the expanded trust will leverage partnerships with Zambia, Argentina and the PSU KABIL to secure lithium and strengthen international supply chains.
• Opposition protests over the Election Commission’s voter list revision in Bihar repeatedly disrupted the session, leading to an adjournment of the Lok Sabha until August 18.