India is negotiating a pact with the DRC to source cobalt and copper, aiming to send geologists. Congo’s geopolitical strife may complicate these efforts. The U.S. is also considering partnerships related to critical minerals. Cobalt exports have been temporarily suspended to combat production surplus.
India is actively pursuing international mineral assets, particularly cobalt and copper, through ongoing talks with the Democratic Republic of Congo (DRC). The Indian mines ministry is working to obtain clearance from the foreign ministry to deploy a team of geologists to Congo, as a memorandum of understanding is currently under negotiation with the Congolese government. Both nations display a strong interest in the potential partnership, albeit discussions remain confidential.
New Delhi aims to participate in a mining conference in Congo this year, following a senior official’s visit in July 2024 to investigate sourcing opportunities for cobalt and copper. Congo is notably the leading global producer of cobalt, essential for batteries in electric vehicles and mobile devices, while copper plays a crucial role in power generation, electronics, and construction.
However, geopolitical tensions within Congo, resulting from clashes between the Rwanda-backed rebel group M23 and pro-Congolese militias, may present significant challenges for India’s mining ambitions. Ritabrata Ghosh, vice president at ICRA Ltd, highlighted that such geopolitical dynamics can delay projects in African regions due to their complexity. Additionally, the process of critically mineral extraction and commercialization is technologically demanding, potentially elongating timelines following the discovery of resources.
Further diversifying its efforts, India plans to send a geologist team to Zambia in the upcoming months. Recently, it was reported that the United States is also exploring partnerships with Congo in the critical minerals sector, in response to inquiries from Congolese senators advocating a minerals-for-security arrangement. Additionally, Congo has temporarily halted cobalt exports for four months, aiming to address an oversupply issue in production.
India’s pursuit of cobalt and copper resources from Congo reflects its strategic interests in global mineral assets. Despite the promise of collaboration, geopolitical challenges within Congo may complicate these efforts. Additionally, the technological complexities involved in processing these critical minerals may extend timelines for commercialization. The evolving dynamics in Congo’s mining sector, including recent U.S. interest, further underscore the intricate landscape of international mineral sourcing.
Original Source: m.economictimes.com
