India-Zambia Critical Minerals Talks Stalled Over Mining Rights Issues
India-Zambia talks on critical minerals stall over mining rights concerns
Business Standard
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Talks between India and Zambia regarding critical minerals, particularly cobalt and copper, have stalled due to Zambia's lack of assurances on mining rights. India is seeking to secure these resources amid rising domestic demand and dependence on imports.
- 01India's discussions with Zambia over mining rights for critical minerals have stalled.
- 02India received a 9,000 square km allocation to explore cobalt and copper in Zambia.
- 03The exploration program was planned to last three years before inviting private sector participation.
- 04India's copper imports have surged since the closure of Vedanta's Sterlite Copper smelter in 2018.
- 05India is increasingly reliant on cobalt imports, with shipments expected to rise significantly.
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India's negotiations with Zambia concerning the mining of critical minerals, specifically cobalt and copper, have hit a roadblock due to Zambia's failure to provide assurances regarding mining rights. India was allocated 9,000 square kilometers (approximately 3,475 square miles) to explore these minerals, which are essential for electric vehicle batteries and various electronic applications. A geologist team dispatched last year returned with mineral samples, but the exploration program, intended to last three years, is now in jeopardy. The Indian government aims to secure these resources amid a tightening global copper market, especially as copper imports have increased since the closure of Vedanta's Sterlite Copper smelter in 2018. In the fiscal year ending March 2025, India is projected to import 1.2 million metric tons of copper, a 4% increase from the previous year. Additionally, India's dependence on cobalt is growing, with shipments expected to rise 20% in 2024-25 to 693 metric tons.
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The stalled negotiations could hinder India's ability to secure essential minerals, potentially affecting domestic industries reliant on copper and cobalt, such as electric vehicle manufacturing.
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