After identifying 30 critical minerals essential for national security, India intensified its efforts to secure cobalt, given its increasing importance in the global shift towards EVs and green energy initiatives.
Al Jazeera reported that in January, India submitted an application to the International Seabed Authority (ISA) based in Jamaica, seeking permission to explore the cobalt-rich Afanasy Nikitin Seamount located in the central Indian Ocean, approximately 1,350 km (850 miles) east of the Maldives and within India's continental shelf.
India outlined plans for extensive geophysical, geological, biological, oceanographic, and environmental studies over 15 years in an area spanning 3,000 square kilometers. However, the ISA review revealed that another country, likely Sri Lanka, also claims the seamount as part of its continental shelf. Due to delays in responding to the ISA's queries, India's application is now on hold.
The exploration's intent was economic and strategic, according to an unnamed source speaking to Al Jazeera. India's application for exploration aimed to establish a presence in the region before China could do so.
India identified a list of 30 critical minerals for India, including antimony, beryllium, bismuth, cobalt, copper, gallium, germanium, graphite, hafnium, indium, lithium, molybdenum, niobium, nickel, PGE, phosphorous, potash, REE, rhenium, silicon, strontium, tantalum, tellurium, tin, titanium, tungsten, vanadium, zirconium, selenium and cadmium.
According to the Ministry of Mines of India, critical minerals are essential for economic development and national security. Encouraging indigenous mining would lead to a reduction in imports and the setting up of related industries and infrastructure projects.
To explore critical minerals, three of India's central public sector enterprises formed a new joint venture company, Khanij Bidesh India Ltd. (KABIL). The company aims to acquire critical mineral assets overseas to ensure a stable supply of critical minerals, including lithium and cobalt, to the Indian domestic market.
According to a Hindu Business Line report in April, India and the Democratic Republic of Congo are expected to sign an MoU for India to tap into Congo for critical mineral access, particularly copper and cobalt. The Democratic Republic of Congo has the world's largest cobalt reserves of six million metric tons.
Cobalt production (metric ton) | ||
Country | 2022 | 2023 |
Congo (Kinshasa) | 144,000 | 170,000 |
Indonesia | 9,600 | 17,000 |
Russia | 9,200 | 8,800 |
Others | 6,600 | 6,600 |
Australia | 5,790 | 4,600 |
Madagascar | 3,500 | 4,000 |
Philippines | 3,900 | 3,800 |
Cuba | 3,700 | 3,200 |
New Caledonia | 2,000 | 3,000 |
Papua New Guinea | 2,990 | 2,900 |
Turkey | 2,100 | 2,800 |
Canada | 3,060 | 2,100 |
US | 500 | 500 |
Source: US Geological Survey, June 2024
