India seeks to secure cobalt and copper sources from Congo amid geopolitical tensions, with plans to send geologists and attend a mining conference. Discussions for a memorandum of understanding are ongoing, while commercial challenges persist due to regional instability. Additionally, India will also explore resources in Zambia and is aware of potential U.S. partnerships with Congo.
India is intensifying its search for mineral assets overseas, particularly in Congo, to secure sources of cobalt and copper. The mines ministry is seeking approval from the foreign ministry to dispatch a team of geologists to Congo. Confidential sources indicate that a memorandum of understanding is currently being negotiated, as both nations have expressed interest in collaboration.
Officials from New Delhi plan to attend a mining conference in Congo this year, following a recent visit by a senior ministry representative in July 2024. This initiative is pivotal, considering Congo’s status as the world’s leading producer of cobalt, essential for electric vehicle and mobile phone batteries, alongside copper, which is vital across various industries.
However, political tensions in Congo, particularly with ongoing conflicts involving the Rwanda-backed M23 rebel group and local militias fighting for control of mineral-rich territories, pose challenges for India. “In African countries, the challenge would be geopolitics and that is what delays projects,” remarked Ritabrata Ghosh, vice president and sector head for corporate ratings at ICRA Ltd.
Furthermore, the commercialization of discovered mineral resources is a time-intensive process given the technological complexities involved in processing critical minerals. Additionally, reports indicate that India plans to send geologists to Zambia within two months, reflecting a broader strategy to secure mineral resources.
On the international front, there have been discussions regarding potential partnerships between the United States and Congo for critical minerals, following an outreach from a Congolese senator proposing a minerals-for-security agreement. Notably, Congo recently imposed a four-month export suspension on cobalt to manage the current surplus production.
India’s proactive strategy to establish agreements with Congo for cobalt and copper highlights its commitment to securing vital mineral resources amid geopolitical challenges. The ongoing discussions and planned visits underscore the importance of these minerals in technology and energy sectors, while also reflecting the complexities of operating within regions marked by instability. This pursuit, alongside potential collaborations with other nations, illustrates India’s broader efforts in mineral exploration and procurement.
Original Source: m.economictimes.com
