China has monopoly over critical minerals in the whole world. To break this monopoly, a big deal has been made between 5 countries of the world including India. Reuters has quoted sources in its report as saying that India is in talks with Brazil, Canada, France and the Netherlands for joint exploration, extraction, processing and recycling of important minerals. India is expanding its reach at the global level to ensure supply of key raw materials. So that China’s dominance in this sector can be reduced. Sources said the main focus would be on lithium and rare minerals, and India would also like to gain access to minerals processing tech. Let us also tell you what kind of things have come to light regarding this deal in the Reuters report.
What do mining experts say?
Mining experts say overdependence on its arch-rival China, which dominates the global supply of many minerals and has advanced mining and processing technology, points to the need for India to engage with various countries while accelerating the energy transition to reduce emissions. However, from discovery to production, mining can take years, with exploration alone taking five to seven years and the process often ending without a viable mine. One of the sources said India wants to replicate some elements of the key minerals agreement signed with Germany in January, which includes exploration, processing and recycling as well as acquisition and development of mineral assets in both countries and in third countries.
No one gave any official statement
The source said requests have been received from France, Netherlands and Brazil and we are in talks with them, while an agreement with Canada is being actively considered. Sources said the Mines Ministry is leading this effort. Canadian Prime Minister Mark Carney is likely to visit India in early March and sign agreements on uranium, energy, minerals and artificial intelligence. Asked for comment, the Department of Natural Resources Canada referred to a January statement that said the two sides had agreed to formalize cooperation on critical minerals in the coming weeks. The Brazilian Embassy in New Delhi, India’s Mines Ministry and the External Affairs Ministry did not respond to Reuters requests for comment. The Embassy of the Netherlands also did not comment, while the Embassy of France declined to comment.
Talks are also going on with these countries
India is exploring important minerals globally and has signed agreements with Argentina, Australia and Japan. Additionally, comprehensive bilateral agreements related to critical minerals are being negotiated with Peru and Chile. India’s growing international involvement comes at a time when finance ministers from the G7 and other major economies met in Washington last month to discuss ways to reduce dependence on China for rare minerals. In 2023, India identified more than 20 minerals, including lithium, as “critical” to its energy transition and meeting growing demand from industry and infra sectors.