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Australia and India agree to cooperate on crucial minerals

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Australia and India agree to cooperate on crucial minerals

Following a meeting with their Indian counterparts, Pralhad Joshi, Minister for Parliamentary Affairs, Coal and Mines, and Madeleine King, Minister for Resources and Northern Australia, increased their cooperation on the creation of crucial mining projects and supply chains on Monday.

King stated that Australia would join the India-Australia Critical Minerals Investment Partnership in a three-year, $5.8 million investment. Following his conversations with Joshi, King declared that Australia and India were natural partners on crucial minerals and that both countries were committed to lowering emissions and increasing the use of renewable energy.

According to King, as Australia’s vital minerals sector expands, they continue to build on the success of those established supply networks as a reliable source of resources and energy for India.

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According to Joshi, the Critical Mineral Facilitation Office (CMFO), Australia, and Khanij Bidesh India Ltd. recently inked an MoU with the goal of ensuring dependable supplies of Critical and Strategic Minerals to India.

Cooperative due diligence on lithium and cobalt mining assets in Australia is covered by the MoU. The Indian JV KABIL and CMFO would each contribute an initial $6 million USD to the due diligence process. Investment possibilities will be considered upon the completion of the due diligence and the identification of pertinent projects, as stated in the MoU.

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