India Australian partnership puts focus on critical minerals sector
A new investment partnership with India is set to unlock mutual benefits for both countries from Australia’s world-leading critical minerals sector.
The Government has allocated $5.8 million to the three-year Australia-India Critical Minerals Investment Partnership.
“Our combined capabilities will take on the challenge of resourcing the emerging technologies used in sectors such as defence, aerospace, automotive, renewable energy, telecommunications and agritech," Minister for Resources and Water Keith Pitt said.
“India is forecast to become the world’s most populous country within two years. Its fast-growing economy will create more trade and investment opportunities, so it is important Australia continues to build close ties with India,” Minister Pitt said.
Australia will work closely with India to identify potential critical minerals investment opportunities, including technical and due diligence exercises which can assist development of a business case for prospective Indian investment in Australia.
“With our vast quantities of development-ready critical minerals projects and reputation as a reliable trading partner, Australia is a logical choice as India looks to secure its supply chains,” Minister Pitt said.
“The partnership will encourage strong, strategic supply chain partnerships, including through technical studies that will support investment in Australian critical minerals projects.”
This news come only days after the announcement of the Round 14 Australia-India Strategic Research Fund grant recipients. The University of Adelaide were awarded close to $1m by the fund to continue their research into the advanced recovery of battery materials and rare earth elements from ores and wastes.