In a bid to strengthen the critical mineral supply chain for emerging technologies, the government is taking several proactive measures to secure such minerals, including lithium from Australia and Argentina, a top official said on Thursday.
The government has “commissioned consultants to identify assets and companies” in the critical mineral sector in countries such as Australia, and is sending a team of geologists to Argentina by the end of this month to evaluate lithium varieties, Mines secretary Vivek Bharadwaj said.
The Indian and Australian governments are working together in this direction, he said.
"We have commissioned consultants. The governments of India and Australia are both working together to identify companies in the critical mineral space. We expect to identify these companies in the next two months. We are willing to offer these opportunities to private entities, despite doing due diligence on our behalf,” Bharadwaj told reporters on the sidelines of the Global Mining Summit 2022, organised by CII.
Currently, India is import-dependent for supplying many minerals like lithium, nickel, and cobalt and the use of these is gaining popularity in the new emerging technology applications.
“Companies are operating at different levels (in Australia) – one could be in exploration, one in the early stages of finding minerals, and entities which can have offtake agreements," he said.
The team of geologists will evaluate the feasibility of the two varieties of lithium available in Argentina--hard rock form and brines.
Lithium is a critical mineral to boost electric mobility.
Some public sector companies, like iron-ore producer NMDC, are also scouting for such opportunities.
On Thursday, the private mining sector called for a single window system.
