Hyderabad: A 7-member Australian critical minerals value chain business delegation visited India from 27 November to 02 December 2023 as part of the Australia India Business Exchange (AIBX) program. Organised by the Australian Trade and Investment Commission (Austrade), the delegation visited Mumbai, Hyderabad and Bengaluru, to position Australia as a reliable and long-term critical minerals supply partner. The first critical minerals value chain business delegation to India was organised by Austrade in September 2022.
The delegation brought together representatives from Australian companies and agencies such as Castile Resources, Commonwealth Scientific and Industrial Research Organisation (CSIRO), EcoGraf, Future Battery Industries Co-operative Research Centre (FBICRC), Minerals Council of Australia, and Rio Tinto.
During the visit, the delegation met with Indian stakeholders in the fields of battery manufacturing, energy-related enterprises, battery component manufacturing, energy services, specialty chemicals production, fertiliser manufacturing, public sector undertakings (PSUs), energy storage technology start-ups, electric vehicle 2W manufacturing, and beyond.
Australia is a world-leading mining jurisdiction and offers potential investors and offtakers a stable business environment, transparent regulatory frameworks and a government committed to supporting critical minerals projects. As a secure supplier of resources with an unparalleled critical minerals endowment, highly skilled workforce, world-class innovation and research and a world-leading approach to Environmental, Social and Governance (ESG), Australia is an obvious partner of choice for India.
Speaking about the delegation visit, Ms Denise Eaton, Trade and Investment Commissioner, Austrade said, “Australia, endowed with rich and varied mineral resources, stands out as a global frontrunner in satisfying the demand for critical minerals. constructing low-carbon economic models. With a rich geological endowment and a track record as a reliable exporter of energy and resources, Australia can play a pivotal role in delivering the processed critical minerals that India needs for a clean energy future. Australia’s strong capabilities in critical minerals research and development will help deepen the bilateral engagement.”
Australia and India have a natural partnership of shared mutual strategic and economic priorities. The IA-ECTA came into force on 29 December 2022 and eliminated tariffs for most critical minerals, giving India greater access to the world’s leading supplier of critical minerals.