India and Russia reportedly nearing agreement on critical minerals, covering exploration, processing, and technology cooperation
According to two sources familiar with the matter cited by Reuters, India and Russia are engaged in intensive discussions over exploration, processing, and technological collaboration on critical minerals, aiming to sign a preliminary agreement.
The sources said the agreement is expected to focus on lithium and rare earths, with both governments also facilitating investments by enterprises. As the talks remain confidential, the sources declined to be named. They added that the agreement could be signed within two months. One source stated, "We have already shared the draft of the proposed agreement with our Russian counterparts."
The Indian Ministry of Mines, which is leading the negotiations with Russia, did not respond to requests for comment. Nor did the Russian Ministry of Industry and Trade or the office of First Deputy Prime Minister Yuriy Maltsev respond to inquiries.
India is eager to reduce its reliance on China. China holds a dominant position in global supply chains for various critical minerals and possesses advanced mining and processing technologies. India aims to secure new overseas mineral supplies to support its energy transition and infrastructure development.
India has already signed critical minerals agreements with Argentina, Australia, and Japan, and is currently negotiating broader bilateral agreements covering critical minerals with Peru and Chile.
However, progress in securing overseas critical mineral resources has been limited so far—India has only signed one lithium exploration and mining project agreement, covering five blocks in Argentina, which is expected to take effect in 2024.
One source said India may reconsider Rosatom, Russia’s state nuclear energy company’s lithium exploration project in Mali, if political stability returns to the West African nation.
Earlier this year, Reuters reported that India withdrew from Mali’s lithium project due to security concerns. In the same period, India signed a series of agreements with multiple countries including Germany, Brazil, and Canada, aimed at strengthening technology access and partnerships.
In 2023, the Indian government designated more than 20 minerals, including lithium, as critical for energy transition and meeting growing industrial and infrastructure demands.
Source: rfi
Original article: toutiao.com/article/1864989889331200/
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