India is negotiating with Congo to secure cobalt and copper supplies for its industries. The mines ministry plans to send geologists to Congo and Zambia as part of these efforts. However, geopolitical tensions in Congo pose challenges, while the U.S. is also considering partnerships with Congo regarding critical minerals.
India is actively pursuing mineral assets abroad, particularly in cobalt and copper, as part of its strategic efforts to diversify supply chains. The Indian mines ministry is in the process of obtaining approval from the foreign ministry to dispatch a team of geologists to the Democratic Republic of Congo (DRC) for potential partnerships. Sources indicate that a memorandum of understanding is being drafted, reflecting the mutual interest of both nations in this collaboration.
In addition to the ongoing discussions, India plans to send officials to a mining conference in Congo later this year. This follows a July visit by a senior official to explore opportunities for acquiring cobalt and copper supplies. With Congo being the primary producer of cobalt, a critical element in battery manufacturing for electric vehicles and mobile devices, and copper, essential for various industrial applications, the significance of this collaboration cannot be overstated.
However, geopolitical tensions pose substantial challenges to these initiatives. The conflict involving the Rwanda-backed M23 rebel group and pro-Congo militias in eastern regions of Congo complicates investment efforts. Ritabrata Ghosh, a vice president at ICRA Ltd, noted that the “geopolitics” in Africa often delays such projects. Furthermore, the processing of critical minerals requires advanced technology and significant time for commercial viability following the discovery of deposits.
Alongside Congo, India is also preparing to send a geologists’ team to Zambia in the forthcoming months to further its exploration of mineral resources. Concurrently, reports have surfaced regarding the United States exploring partnerships with Congo, particularly in light of a minerals-for-security proposal from a Congolese senator. Additionally, Congo recently imposed a four-month suspension on cobalt exports to alleviate an overproduction crisis.
India is making significant strides in securing vital mineral resources necessary for its growing industries. Its engagement with Congo illustrates a focused approach to diversify sources for cobalt and copper, despite the geopolitical challenges present in the region. The planned initiatives reflect India’s commitment to fostering international partnerships, enhancing its mineral supply chain, and addressing future industrial needs.
Original Source: m.economictimes.com
