New Delhi: India and Australia are expanding their strategic ties for critical minerals, from cell phones, electric vehicles to clean energy, against China’s dominance of ubiquitous raw materials in military and commercial applications.
Minister of Coal and Mines Prahlad Joshi is in Australia to build on a Memorandum of Understanding signed between Khanij Bidesh India (KABIL) is a joint venture of three central public sector entities under the Ministry of Mines and the Critical Minerals Facilitation Office (CMFO) of Australia.
The MoU envisages $6 million as initial funding, to be shared equally by both countries, with a shared ambition to develop a secure, robust and commercially viable critical mineral supply chain.
Joshi is also scheduled to visit mineral rich sites of Tianqi Lithium Quinana and Greenbush mines, besides holding talks with key ministers of the Australian government.
“The India-Australia Vital Minerals Investment Partnership envisages joint investment for viable lithium and cobalt projects in Australia, which is critical to India’s transition towards clean energy ambitions,” the government said in a statement on Sunday.
The move will complement the Mobility Initiative for the use of critical and strategic minerals and India’s mineral security for other diverse sectors.
India is one of the fastest growing economies in the world and there is huge scope for cooperation in the mineral sector. The Center said technology transfer, knowledge-sharing and investments in critical minerals such as lithium and cobalt are strategic to achieve clean energy ambitions.
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