India, Oz bring critical minerals into strategic ties – Times of India

NEW DELHI: India and Australia are expanding their strategic ties to critical minerals in a bid to create a bulwark against China’s dominance over raw materials ubiquitous in military and commercial applications, ranging from cell phones, electric vehicles to clean energy.
Coal and mines minister Prahlad Joshi is in Australia to build upon an MoU signed between Khanij Bidesh India (KABIL), a joint venture of three central public sector entities under the mines ministry, and Critical Minerals Facilitation Office (CMFO) of Australia.
The MoU envisages $6 million as initial funding, to be shared equally by both countries, towards a shared ambition to develop secure, robust and commercially viable critical minerals supply chains.
Joshi is scheduled to visit mineral-rich sites of Tianqi Lithium Kwinana and Greenbushes mine, besides holding talks with key ministers in the Australian government.
“The India-Australia critical minerals investment partnership envisages joint investment for viable lithium and cobalt projects in Australia, which is critical for India’s transition towards clean energy ambitions,” the government said in a statement on Sunday.
The steps will complement India’s mineral security for emobility initiatives and other diversified sectors entailing usage of critical and strategic minerals, it said.
India is among the fastest growing economies in the world and there is huge scope for collaboration in the mineral sector. Technology transfer, knowledge-sharing and investment in critical minerals like lithium and cobalt are strategic to achieving clean energy ambitions, the Centre said.