India and Russia in advanced talks on critical minerals pact
2026-05-13 14:54:31 [Print]
India and Russia are closing in on a preliminary critical minerals agreement that would span joint exploration, processing and technology sharing, according to people familiar with the matter. The deal, which could be signed within two months, is set to focus on lithium and rare earths, with both governments also aiming to spur corporate investments.
New Delhi is eager to reduce its reliance on China, which dominates global supply chains for several key minerals and holds advanced mining and processing technology, and to lock in new overseas sources to underpin its energy transition and infrastructure push.
India has already sealed critical minerals pacts with Argentina, Australia and Japan, and is negotiating broader agreements with Peru and Chile that also cover such minerals. However, its success in securing foreign mineral assets has been limited; so far, the only signed lithium exploration and mining project is a 2024 deal covering five blocks in Argentina.
In 2023, the government designated more than 20 minerals, including lithium, as critical for meeting the demands of its clean?energy shift and rising industrial and infrastructure needs.
New Delhi is eager to reduce its reliance on China, which dominates global supply chains for several key minerals and holds advanced mining and processing technology, and to lock in new overseas sources to underpin its energy transition and infrastructure push.
India has already sealed critical minerals pacts with Argentina, Australia and Japan, and is negotiating broader agreements with Peru and Chile that also cover such minerals. However, its success in securing foreign mineral assets has been limited; so far, the only signed lithium exploration and mining project is a 2024 deal covering five blocks in Argentina.
In 2023, the government designated more than 20 minerals, including lithium, as critical for meeting the demands of its clean?energy shift and rising industrial and infrastructure needs.
Lithium Hydroxide LiOH 56.5%min, Magnets 0.0001%max Delivered South Korea
Unit:USD/kg
Chna's lithium hydroxide producers; inventory to production ratio statistics by province by month
Unit: %
