Australia earmarks five lithium mines for Indian companies

Australian authorities have identified at least five mines containing lithium and cobalt, and these resources have been earmarked for Indian entities, led by the state-owned Khanij Bidesh India (KABIL). KABIL is a joint venture involving state-run entities like NALCO, Hindustan Copper, and the Mineral Exploration Corporation. This development is a positive step for India’s efforts to secure essential minerals from abroad.

The collaboration between India and Australia, initiated after the Covid-19 outbreak, aims to establish a resilient supply chain and reduce dependency on China. The Economic Cooperation and Trade Agreement (ECTA), supported by KABIL and Australia’s Critical Minerals Office, is gaining momentum in this regard. Discussions for a dedicated chapter on critical minerals are expected to occur during an upcoming full free trade agreement (FTA) between the two countries.

India is also exploring similar opportunities in other countries like Mongolia, Argentina, and Chile, focusing on minerals such as copper and lithium. The Indian government is considering potential FTAs with Peru and Chile to secure critical minerals. In addition to securing the supply of these minerals, India is also taking steps to enhance domestic processing capabilities, particularly in areas where China dominates.

To support the processing of these minerals, India is inviting laboratories to contribute their expertise in developing technologies for mineral processing used in battery manufacturing. Recent amendments to the Mines and Minerals Act are expected to boost domestic mining efforts, with a focus on exploration and development. India’s investment in domestic mining is comparatively lower, and these efforts aim to increase investment and secure critical mineral resources for the nation’s energy transition and economic development.

Elevate your business with QU4TRO PRO!

Gain access to comprehensive analysis, in-depth reports and market trends.

Interested in learning more?

Sign up for Top Insights Today

Top Insights Today delivers the latest insights straight to your inbox.

You will get daily industry insights on

Oil & Gas, Rare Earths & Commodities, Mining & Metals, EVs & Battery Technology, ESG & Renewable Energy, AI & Semiconductors, Aerospace & Defense, Sanctions & Regulation, Business & Politics.

By clicking subscribe you agree to our privacy and cookie policy and terms and conditions of use.

Read more insights

Japan, Namibia sign rare earths exploration deal

Japan has taken a significant step in its pursuit of diversifying its supply chain for critical minerals by signing an agreement with Namibia to jointly explore for rare earth minerals. This move is part of Japan’s broader strategy to reduce its reliance on China, which currently dominates the global supply of these essential minerals used in various industries, including electric vehicle (EV) batteries.

Australia buying Tomahawk missiles from U.S. worth $833 million

Australia has committed to spending A$1.3 billion (approximately $833 million) to enhance its long-range strike capabilities, which includes the procurement of more than 200 Tomahawk cruise missiles from the United States. This acquisition aligns with Australia’s broader defense transformation efforts and comes as the country finalizes the deal to acquire the Tomahawk missiles, marking Australia as one of the select few nations, alongside the U.S. and Britain, to possess this advanced capability.

ECB raises interest rate to record 4%, forecasts upward inflation for next year

Traders are maintaining their bets that the European Central Bank (ECB) will cut interest rates next year, in apparent defiance of the bank’s signals of “higher rates for longer,” as they grapple with a deteriorating European economy.

Stay informed

error: Content is protected !!