India becomes a major investor in Australia’s critical minerals sector

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<strong>Australia said today that India has now become a major investor in critical minerals used in the production of mobile phones, flat screen monitors, wind turbines, electric cars and solar panels.</strong></p>
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The Australia-India Economic Cooperation and Trade Agreement (AI ECTA) signed on Saturday will assist in realising the potential of the Australia-India economic relationship and provide certainty in the supply of high quality and competitively priced critical minerals essential.</p>
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Under the agreement, tariffs will be eliminated on entry into force for coal, alumina, metallic ores, including manganese, copper and nickel; and critical minerals including titanium, lithium, cobalt, tungsten and zirconium.</p>
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As a priority strategic partner in the Indo-Pacific, and Australia's fifth largest energy and resources market, India is a major investor in Australian resources with significant (and growing) demand for critical minerals products and other resources.<br />
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"Australia is the logical choice to meet India's growing demand for mineral resources and we are also well-placed to meet India's growing demand for mining equipment, technology and services and have a competitive edge in mining consultancy; exploration technologies; mining software; processing components and systems; environmental and mineral quality technologies and safety equipment; and mining education and skills," said Dan Tehan, Australia's Minister for Trade, Tourism and Investment.</p>
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<img alt="Australia India" src="https://www.indianarrative.com/upload/news/australia_critical_minerals.webp" style="width: 100%; height: 100%;" /></p>
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<em><strong>(Map courtesy: Government of Western Australia Department of Mines, Industry Regulation and Safety)</strong></em></p>
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The minister highlighted that the trade deal would build on existing partnerships and investment streams that already existed between Australia and India in critical minerals.</p>
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"Our government is working to secure Australia as a reliable, safe producer of critical minerals to meet growing global demand, this will support jobs and businesses in Australia and also guarantee robust supply chains for our trading partners," Tehan added.<br />
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Australia's Minister for Resources and Water, Keith Pitt said the agreement is further good news for the country's resources sector and will build on our international reputation as a reliable and leading supplier.<br />
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"India has become a significant market for Australian resources exporters, particularly through the Covid pandemic, and this agreement will take our relationship to a new level," Pitt said.<br />
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"The FTA will strengthen ties in traditional resources with the Bravus Mine in Queensland about to begin its first coal exports to India, which is seeking to ensure its long-term energy security," he stated further.<br />
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<strong>Also Read: <a href="https://www.indianarrative.com/world-news/pm-modi-and-morrison-draw-roadmap-to-jointly-tap-lithium-and-other-critical-minerals-158758.html">PM Modi and Morrison draw roadmap to jointly tap lithium and other critical minerals </a></strong></p>