An Australian official said on Tuesday that India is interacting with Australia to a source of rare earth minerals.
Development considers importance of rare earth magnets due to Chinese export restrictions.
“They (India and Australia) are talking about rare earth and blocks are available. So there is an opportunity for India to take an early stage block and tie-up with some companies,” said Malini Dutt, Business and Investment Commissioner, New South Wales Sarkar, Australia.
In addition to the rare Earth, both private and public sectors in India have shown interest in copper blocks in Australia, saying on the occasion of India Energe Storage Week (IESW) 2025 organized by India Energy Storage Alliance (IESA).
Malini said, “Copper is very much interested, in view of some conversations done by me. The interest is from both the private sector and a PSU who is enough on hunting for copper (block),” Malini said.
“You know that there are smelters and companies like Adani have made a big investment. Capacity is available. There is an abundance of copper. It is an area that people are seeing,” he explained.
China’s sanctions on the export of rare earth elements and related magnets are affecting domestic auto and white goods sectors.
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China controls more than 90 percent of global processing capacity for magnets, which is used in many fields including automobiles, home appliances, and clean energy.
Important materials include Samari, Gadolinium, Terbium, Dysprocyum and Luttium, which are essential in electric motors, braking systems, smartphones, and missile techniques.
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