A deeper level of collaboration and an extension of current commitments to the India-Australia Critical Minerals Investment Partnership have also been agreed upon by the ministers of the two nations.

India and Australia held bilateral discussions on Friday to discuss investment in vital mineral projects, such as lithium, to create supply chains between the two nations.

The alliance was launched by Pralhad Joshi, Union Minister for Coal, Mines and Parliamentary Affairs, and Madeleine King, Minister for Resources and Northern Australia. They have chosen five target projects (two for lithium and three for cobalt) on which to conduct in-depth due diligence.

A deeper level of collaboration and an extension of current commitments to the India-Australia Critical Minerals Investment Partnership have also been agreed upon by the ministers of the two nations.

The partnership's investments will work to establish new supply networks supported by essential minerals processed in Australia, which will support India's plans to reduce emissions from its electricity network and establish itself as a hub of global manufacturing, including that of electric vehicles.

After the signing of the Memorandum of Understanding (MoU) in March 2022 between the two organisations, the cooperation between India's Khanij Bidesh India Ltd (KABIL) and CMO Australia has already achieved the first milestone, according to Joshi.