Australia has taken another step towards becoming a major supplier of critical minerals to India with the release of Austrade’s report, Unlocking Australia-India Critical Minerals Partnership Potential.
The report outlines ways Australian companies can partner with India to supply critical minerals, attract investment for Australian mining and mineral processing projects, and export services and technology to process, refine, recover and recycle critical minerals.
It also indicates Australia’s intention to assist India in its own mineral exploration, while supporting India’s mining-related environmental management.
The Federal Government is looking to advance Australia as a world leader in critical minerals exploration, extraction and production. Something Minister for Trade, Tourism and Investment Dan Tehan believes complements India’s “ambitious industrial development agenda.”
“Critical minerals are essential inputs for industries such as electric mobility, energy storage systems, electronics, aerospace and defence,” Tehan said.
“India has an ambitious industrial development agenda that will require a stable and secure supply of critical minerals and related technologies.
“Australia has among the world’s largest recoverable reserves of many critical minerals and is recognised as a leader in sustainable, ethical mining practices.”
India’s aspirations in development and infrastructure are represented by the country’s Make in India program, launched in 2014 under Prime Minister Narendra Modi, while the country is also pushing to ensure more than 30 per cent of vehicles sales in India will be electric by 2030.
Tehan believes Australia’s developed mining infrastructure is a natural asset for India’s growing critical minerals demand.
“We are also a world leader in mining equipment, technology and services capabilities, as well as in mineral and resources research and development,” Tehan said.
Australia has the opportunity to become one of the top suppliers of cobalt and zircon to India, along with other critical minerals such as antimony, lithium, rare earth elements and tantalum.