India and Sri Lanka Strengthen Bilateral Ties in Critical Minerals, Mining, and Exploration.
New Delhi:
In a significant move to enhance economic cooperation, India and Sri Lanka have made strides in strengthening their partnership in the fields of mineral exploration and mining, with a specific focus on critical minerals. The discussions, led by Satish Chandra Dubey, Union Minister of State for Coal and Mines, and Sunil Handunnetti, Minister of Industry and Entrepreneurship Development of Sri Lanka, took place today at Shastri Bhawan, New Delhi.
The two leaders engaged in detailed discussions on the potential for collaboration in securing critical minerals crucial to both nations’ growth, particularly in sectors such as clean energy, battery technology, and high-tech industries. Among the key resources highlighted were Sri Lanka’s rich deposits of graphite and beach sand minerals. These resources are expected to play a pivotal role in advancing global energy transitions and meeting the growing demand for high-performance materials.
Dubey emphasized India’s National Critical Mineral Mission, designed to ensure a steady supply of vital minerals like lithium, graphite, nickel, cobalt, and copper, all of which are key to the country’s ambitious renewable energy goals. In this context, he reiterated India’s proactive approach to securing mining rights, forming international partnerships, and encouraging Indian companies to invest in mineral assets around the world.
The discussions also revolved around the potential for joint ventures between Indian and Sri Lankan entities, with an emphasis on exploring mineral assets under a Government-to-Government (G2G) framework. The Geological Survey of India (GSI) expressed interest in conducting detailed mineral assessments in Sri Lanka, while Sri Lanka invited Indian companies to contribute to the exploration and development of its extensive graphite and beach sand resources.
One of the key outcomes of the meeting was the ongoing negotiation of a Memorandum of Understanding (MoU) between India’s Ministry of Mines and Sri Lanka’s Geological Survey & Mines Bureau. Once finalized, the MoU is expected to establish a robust framework for cooperation in geological research, capacity building, and advanced mineral processing. Dubey expressed confidence that the agreement would serve as a catalyst for the modernization of Sri Lanka’s mining industry, with India offering technological and financial support.
“The cooperation between India and Sri Lanka in the mining sector will significantly enhance our economic ties and unlock new opportunities for both nations. Our shared goal is to harness the full potential of our mineral resources, paving the way for mutual growth and sustainability,” said Dubey during the meeting.
Both leaders concluded their discussions with a commitment to accelerate the formalization of agreements and explore further collaboration in the mining and mineral exploration sectors.
