Australia has signed a memorandum of understanding (MoU) to supply India with critical minerals needed for the new-energy economy.
The latest announcement comes following the virtual summit between India’s Prime Minister Narendra Modi and his Australian counterpart 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.
“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.
“India presents growing opportunities for Australia’s critical minerals, especially as the nation looks to build its manufacturing sector, defence and space capabilities.”
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