India, U.S. working to scale up partnership on critical minerals

Contact Counsellor

Last Updated21/06/2024

India and the U.S. are looking to “quickly” conclude a bilateral agreement on furthering cooperation on critical minerals
The U.S. Department of Commerce, the Indian Ministry of Commerce and Industry and the Ministry of Mines, are to drive a partnership in supply chains for graphite, gallium, and germanium.

One of the aims will be to promote
- “India’s vital role in the mineral security partnership, including through co-investing in a lithium resource project in South America and
- a rare earths deposit in Africa, to responsibly and sustainably diversify critical mineral supply chains,”
India released a list of 30 minerals critical for the country and has been looking to acquire mines abroad in addition to expanding exploration within the country.
To enable this, the Mines and Minerals (Development and Regulation) Act, 1957 was amended through the MMDR Amendment Act, 2023.
India has incorporated a joint venture company Khanij Bidesh India Ltd. (KABIL) with contribution from three Central Public Sector Enterprises —
- National Aluminium Company Ltd,
- Hindustan Copper Ltd and
- Mineral Exploration and Consultancy Ltd with
The objective of acquiring critical mineral assets abroad to ensure consistent supply of critical minerals to the Indian domestic market.
KABIL is presently exploring opportunities for acquisition of critical minerals assets like lithium and cobalt in Australia, Argentina and Chile.