Updated on 17 Jun 2026
Minerals (other than atomic and hydro carbons energy minerals) concession (second amendment) rules, 2024 amends Rule 45 under the Minerals Concession Rules, 2016. Under this amendment, IBM can now make public ASPs for important minerals like Tungsten, Cadmium, Gallium, Indium, Rhenium, Selenium, Tellurium, Titanium, Beryllium, Tantalum, and Vanadium. The revised methodology to arrive at ASPs takes into consideration internationally accepted references and exchange rates provided by RBI.
Under the Minerals (other than atomic and hydro carbons energy minerals) Concession (Second Amendment) Rules, 2024 notified by the Ministry of Mines, there have been major changes made in Rule 45 of the Minerals Concession Rules, 2016. These changes provide for a detailed process for determining and declaring the ASPs of certain Critical/Strategic Minerals by IBM. A new sub-section is inserted, which outlines methods to calculate ASPs of WO3 (Tungsten Trioxide), Cadmium, Gallium, Indium, Rhenium, Selenium, Tellurium, Titanium, Beryllium, Tantalum, and Vanadium Pentoxide using data published by USGS or other reliable international agencies. The ASP calculation includes RBI reference exchange rate and required conversion factors, wherever necessary. This provides a more transparent and scientific methodology for calculation of ASPs of critical/strategic minerals that have application in modern technology, renewable energy, electronics, aerospace, and defence.