India is negotiating with Congo to source cobalt and copper, seeking to send geologists for further exploration. Despite Congo being the largest producer of cobalt, ongoing geopolitical tensions complicate these efforts. The mineral processing requires substantial time and investment, while the U.S. is also interested in collaboration with Congo on critical minerals. Additionally, Congo has suspended cobalt exports to manage production oversupply.
India is currently engaging in negotiations with the Democratic Republic of the Congo (Congo) to establish a memorandum of understanding for sourcing cobalt and copper. The Indian Ministry of Mines plans to seek approval from the Foreign Ministry to dispatch a team of geologists to Congo, facilitating discussions that are still confidential as indicated by anonymous sources.
A senior official from India had previously visited Congo in July 2024 to identify opportunities for collaboration in securing cobalt and copper supplies. Notably, Congo is the leading global producer of cobalt, an essential component in batteries utilized for electric vehicles and smartphones, while copper is integral for various sectors, including power generation and electronics.
However, geopolitical tensions within Congo, particularly clashes between the Rwanda-backed M23 rebel group and pro-Congo militias, pose significant challenges to India’s endeavors in the region. The ongoing conflicts particularly threaten operations in the mineral-rich eastern provinces of the country. Ritabrata Ghosh, Vice President and Sector Head of Corporate Ratings at ICRA Ltd, remarked on these challenges, stating that geopolitics can delay project progression in African nations.
Furthermore, he emphasized that the commercialization of mineral deposits such as copper and cobalt requires a lengthy period due to the technologically intensive nature of mineral processing. In addition to the Congo initiative, India is also planning a geological expedition to Zambia within two months.
In related news, the United States has expressed interest in establishing partnerships with Congo regarding critical minerals, following outreach from a Congolese senator proposing a minerals-for-security arrangement. In a recent development, statistics revealed that Congo has suspended cobalt exports temporarily for four months to address an oversupply in production.
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In summary, India’s discussions with Congo aim to secure vital mineral resources, primarily cobalt and copper, amidst geopolitical challenges. The upcoming geological missions and international interest in Congo’s mineral wealth underscore the complexity of mineral sourcing in regions affected by conflict. The situation calls for careful consideration of geopolitical factors that may impede progress.
Original Source: m.economictimes.com
