In a move to reduce its dependency on China for lithium, India has stepped up its efforts and is exploring these minerals in other friendly countries like Australia and Africa. India’s mining secretary, V.L. Kanta Rao, on Thursday stated that the country is exploring mining opportunities in Zambia, Congo, and Australia to access important minerals like lithium, cobalt, and copper. He further stated that the governments of these countries are working in collaboration with the Association of State Enterprises of India (KABIL).
“We are trying to explore and mine important minerals through our diplomatic missions in these countries,” Rao said.
It is noteworthy that critical minerals are very important for the production of electric gadgets such as smartphones and even electric vehicles. These include cobalt, copper, lithium, nickel and rare earth minerals.
The government of Zambia has agreed to give an area of 9,000 square kms to India for the exploration of cobalt and copper. The process of exploration of cobalt and copper is likely to take place in the next three years. The government hopes that after the exploration, India will get the right to mine these important metals.
Observers of critical minerals note that as the global shift towards clean and sustainable energy continues, the demand for lithium is on the rise. In response, India is working to lessen its reliance on imported minerals, particularly from China, which currently leads in lithium processing technology.
India’s Investment In Critical Minerals
In January, the Indian government approved an amount of USD 1.9 billion for the National Critical Mineral Mission to achieve self-sufficiency in critical minerals.
Mining Minister G. Kishan Reddy had said that there is a huge demand for lithium blocks and the Geological Survey of India has identified several lithium reserves in Jammu and Kashmir and Chhattisgarh.
Information about the reserves is expected within two to two-three months. After the detection, the lithium reserves will be auctioned.
How Much Lithium Does India Buy From China?
India is engaged in exploring important minerals as these critical minerals are not available in sufficient quantities domestically.
Notably, Australia currently dominates the global supply of lithium. The “lithium triangle” includes Chile, Argentina, and Bolivia. Together, these countries have over 75 percent of the world’s lithium reserves and dominate the world market. Most of the lithium is supplied to China for processing.
China is the primary supplier of lithium to India, accounting for approximately 70% of the country’s total lithium consumption. India’s reliance on China for this resource raises concerns, especially given the ongoing tensions related to the border dispute. Consequently, India is seeking to lessen its dependency on China for lithium.
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