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US joins forces with India to explore important minerals in third nations
(MENAFN) India and the United States have formalized a significant agreement aimed at diversifying and expanding their supply chains for critical minerals, including lithium and cobalt. This partnership was announced by New Delhi on Friday, highlighting both nations' intent to reduce their dependence on China, which currently holds a dominant position in the global supply of lithium—a key component in electric vehicle production and the broader clean energy sector.
The agreement was signed on Thursday during the visit of Indian Commerce Minister Piyush Goyal to Washington. He and U.S. Secretary of Commerce Gina Raimondo emphasized the importance of leveraging their respective strengths to enhance resilience within the critical minerals sector. This initiative aims to address the growing need for reliable sources of these essential materials as global demand surges.
The partnership will focus on a comprehensive approach to the critical minerals supply chain, involving the identification of necessary equipment, services, policies, and best practices for the exploration, extraction, processing, and refinement of these minerals. Goyal described the collaboration as multi-dimensional, extending beyond mere supply chains to encompass technology development and investment flows that support green energy initiatives.
Additionally, the U.S. and India will engage with third countries rich in minerals, particularly in Africa and South America, to bolster their supply networks. India has been actively seeking to enhance its lithium production capabilities, both domestically and through partnerships in other nations. Goyal indicated that India is particularly interested in resource-rich African countries, including Zambia, Namibia, the Democratic Republic of Congo (DRC), Ghana, and Mozambique. Several of these nations have approached India, offering access to their mineral resources in exchange for assistance in repaying their development loans.
As both countries move forward with this strategic partnership, they aim to build a more resilient and diversified supply chain for critical minerals, which is essential for advancing their green energy goals and reducing reliance on external sources. This agreement underscores the importance of international collaboration in securing vital resources for the future, particularly as global competition for these minerals intensifies.
The agreement was signed on Thursday during the visit of Indian Commerce Minister Piyush Goyal to Washington. He and U.S. Secretary of Commerce Gina Raimondo emphasized the importance of leveraging their respective strengths to enhance resilience within the critical minerals sector. This initiative aims to address the growing need for reliable sources of these essential materials as global demand surges.
The partnership will focus on a comprehensive approach to the critical minerals supply chain, involving the identification of necessary equipment, services, policies, and best practices for the exploration, extraction, processing, and refinement of these minerals. Goyal described the collaboration as multi-dimensional, extending beyond mere supply chains to encompass technology development and investment flows that support green energy initiatives.
Additionally, the U.S. and India will engage with third countries rich in minerals, particularly in Africa and South America, to bolster their supply networks. India has been actively seeking to enhance its lithium production capabilities, both domestically and through partnerships in other nations. Goyal indicated that India is particularly interested in resource-rich African countries, including Zambia, Namibia, the Democratic Republic of Congo (DRC), Ghana, and Mozambique. Several of these nations have approached India, offering access to their mineral resources in exchange for assistance in repaying their development loans.
As both countries move forward with this strategic partnership, they aim to build a more resilient and diversified supply chain for critical minerals, which is essential for advancing their green energy goals and reducing reliance on external sources. This agreement underscores the importance of international collaboration in securing vital resources for the future, particularly as global competition for these minerals intensifies.
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