Photo by: Reuters
PERTH (miningweekly.com) – The Australian and Indian governments are hoping to deepen critical mineral cooperation and have agreed to extend existing commitments to the Australia-India Critical Minerals Investment Partnership.
The partnership has identified five target projects, two lithium and three cobalt, on which to undertake detailed due diligence.
Investments under the partnership will seek to build new supply chains underpinned by critical minerals processed in Australia that will help India’s plans to lower emissions from its electricity network and become a global manufacturing hub, including for electric vehicles.
“India’s goals to lower carbon emissions and boost electric vehicle production present great opportunities and prospects for Australia’s critical minerals sector, for renewable exports and for building stronger supply chains,” Resources Minister Madeleine King said.
“We are delighted to announce we have completed the first phase of work under the Partnership, and taken an important step to building new, robust and sustainable supply chains between India and Australia for the key battery minerals such as lithium and cobalt.
“Through market soundings and working with commercial advisers, we have identified five projects on which the parties will proceed to sign non-disclosure agreements and begin undertaking detailed due diligence.
“Working together, both the nations are committed to reducing emissions, guaranteeing energy security and diversifying global markets for critical minerals and clean technologies.”