Narendra Modi, Scott Morrison virtual meeting effect: Australia to supply critical minerals to India

India and Australia have signed a Memorandum of Understanding wherein Australia will supply India with necessary minerals to develop economy. This comes after the virtual summit between Prime Minister Narendra Modi and Australian Prime Minister Scott Morrison.

Australia Resources Minister Keith Pitt said: “My department has worked closely with the Ministry of Mines to develop the MoU, which focuses on avenues to increase trade, investment and R&D in critical minerals between our two countries”.

Advertisement

“The MoU identifies specific areas where Australia and India will work together to meet the raw material demands of the future economy, particularly the increased global demand for critical minerals”.
Australia is one of the top suppliers of cobalt and zircon to India. It is third globally in production of these minerals.

Australia has many reserves of critical minerals such as antimony, lithium, rare earth elements and tantalum.