India is ramping up its initiatives to secure critical mineral resources by signing bilateral memoranda of understanding (MoUs) with thirteen mineral-rich countries in South America, Africa, and Australia.
The move is part of a broader strategy to ensure resource security, especially in the context of critical mineral supplies.
Strengthening Ties with Asian Nations for Resource Exploration
In addition to the international partnerships, mines ministry is deepening its cooperation with three Asian countries – South Korea, Japan, and Israel.
The focus of these collaborations is on geology, exploration, and sharing expertise in the processing of critical minerals.
Exploring Opportunities in Neighbouring Regions
India is actively exploring regional opportunities to expand its critical mineral resources.
The ministry is considering tapping into graphite resources in Sri Lanka.
Additionally, discussions are underway to secure coking coal and copper from Mongolia, a Central Asian nation rich in these minerals.
Expanding Partnerships in Offshore Mineral Processing
The ministry is also advancing plans to form international partnerships focused on the transfer of technology and expertise in offshore mineral processing.
Currently, India is finalizing a draft of MoUs with countries like Namibia, South Africa, the Netherlands, Sweden, and France.
Namibia, known for its deep-sea diamond mining expertise, and South Africa are key partners for the development of offshore resources.
Lithium and Other Key Critical Minerals
At the heart of India’s strategy to secure critical minerals is lithium, often referred to as “white gold,” due to its vital role in powering technologies like mobile phones, electric vehicles (EVs), solar panels, semiconductors, wind turbines, and defense systems.
Alongside lithium, India is focused on securing supplies of copper, nickel, cobalt, and rare earths.
Ongoing Lithium Exploration in South America
India has already secured MoUs with Australia for lithium exploration, and due diligence activities are underway for acquiring lithium blocks.
In South America, India is making significant strides in lithium exploration. It has acquired and begun non-invasive exploration across five lithium blocks in Argentina.
Similarly, in Peru, India is negotiating bilateral agreements to secure lithium and copper supplies. India is also interested in tapping into Chile’s lithium reserves while gaining processing know-how. Colombia has also signed an MoU with India for similar purposes.
Strengthening Ties in the Global Lithium Triangle
In a significant move, India has announced plans to establish an embassy in Bolivia, positioning itself within the global Lithium Triangle, which includes Argentina, Chile, and Bolivia.
Additionally, India is in talks with Peru to negotiate free trade agreements (FTAs), further strengthening its position in the region.
Expanding Resource Partnerships in Africa
India is also focusing on critical minerals in Africa. Countries such as Zimbabwe, Zambia, Morocco, Mali, Mozambique, Malawi, and Côte d’Ivoire are key targets for acquiring resources like copper, cobalt, and lithium.
As reported by thehindubusinessline.com, through the partnerships, India aims to secure a reliable supply of these critical minerals to support its growing technological and industrial needs.
