India, Australia to invest $3 mn each in critical mineral exploration

State-owned firm to lead first-such investment by India for energy security

India and Australia, in the first such partnership between them, will jointly invest $3 million each for five critical mineral exploration projects in Australia. KABIL, a state-owned firm, will lead the investment for the Indian government, said officials.

Details of the partnership agreement—initiated during the Australian Prime Minister’s visit to Delhi last month—are being finalised and the investment will be the first step in building a critical mineral supply chain, said a senior Indian official.

“This is one of our first and major overseas investments in critical mineral exploration. It is part of our plan to have critical mineral ownership