Australia and India have collaborated on five mineral exploration projects in Australia. As part of the partnership, India has agreed to conduct a detailed study on the projects’ geology, mineralisation and potential for further exploration. The projects are located in South Australia, Western Australia, and the Northern Territory, covering diverse minerals such as copper, gold, base metals, and rare earth elements. The partnership is expected to enhance research and development in mining, increase trade and investment, and strengthen the relationship between the two countries.
Additional Information:
1. Background:
Australia and India have a long-standing economic relationship, with mining and resources being a key area of cooperation. India is one of Australia’s top trading partners, with two-way trade worth AUD 27.4 billion in 2019-20. The two countries share a mutual interest in the exploration and development of mineral resources. In recent years, the Indian government has been actively promoting overseas mineral exploration to secure its future supply of minerals.
2. Partnership:
The Australia-India partnership on mineral exploration was announced in June 2020 during a virtual summit between the two countries’ Prime Ministers. The collaboration is being led by Geoscience Australia, the Australian Government’s geological survey agency, and the Geological Survey of India (GSI), India’s national geological agency. The partnership aims to identify and explore new resource opportunities in Australia and promote trade and investment between the two countries.
3. Objectives:
The partnership’s primary objective is to carry out a detailed study of five mineral exploration projects in Australia. The projects were selected based on their potential for further exploration and development. The GSI will be responsible for conducting the detailed exploration, including mapping, sampling, and drilling. The findings will be shared with Geoscience Australia and the project owners to facilitate further exploration or development.
4. Projects:
The five mineral exploration projects included in the partnership are:
a. Ashburton, Western Australia: Located in the Pilbara region, the project targets copper, gold, and base metals.
b. Mount Isa, Queensland: Located in the Mt Isa Inlier, the project targets base metals, copper, gold, and silver.
c. Mt Webb, Northern Territory: Located in the Tanami region, the project targets rare earth elements, barium, and strontium.
d. Mutooroo, South Australia: Located in the Curnamona Province, the project targets copper, gold, and silver.
e. Narndee, Western Australia: Located in the Carnarvon Basin, the project targets copper, gold, and base metals.
5. Benefits:
The partnership is expected to bring several benefits to both Australia and India. Firstly, it will enhance research and development in mining, specifically in areas of exploration, resource assessment, and sustainable development. Secondly, it will promote trade and investment between the two countries, creating opportunities for Australian companies in India and vice versa. Thirdly, it will strengthen the bilateral relationship between Australia and India, building on the existing economic, political, and cultural ties.
Conclusion:
The Australia-India partnership on mineral exploration is a significant step towards enhancing bilateral cooperation in mining and resources. The detailed study of the five mineral exploration projects in Australia will provide valuable insights into their geology and potential for further exploration. The partnership is expected to create opportunities for trade and investment, enhance research and development, and strengthen the relationship between the two countries.
