India Engages with Congo for Cobalt and Copper Supply Agreements

India is negotiating a memorandum of understanding with the Democratic Republic of Congo to secure cobalt and copper supplies. The mines ministry plans to send geologists to Congo and Zambia for exploration. Geopolitical challenges in Congo may hinder progress, as conflicts persist in the region.

India is actively pursuing opportunities to secure mineral assets abroad, particularly cobalt and copper, crucial for electric vehicles and electronics. To facilitate this, the mines ministry will seek approval from the foreign ministry to deploy a team of geologists to the Democratic Republic of Congo (DRC). According to sources familiar with the matter, a memorandum of understanding is currently being processed between the two nations, reflecting mutual interest in collaboration.

In addition to these discussions, New Delhi is planning to send officials to a mining conference in Congo later this year. This initiative follows a senior official’s visit in July 2024 aimed at exploring potential supply sources for cobalt and copper. As the leading global producer of cobalt, Congo plays a significant role in the international market for these essential minerals, where copper is notably utilized across various sectors, including power generation and construction.

However, India faces challenges due to ongoing conflicts in Congo, particularly in its eastern regions, where the M23 rebel group and pro-Congo militias have been vying for control. “In African countries, the challenge would be geopolitics and that is what delays projects,” stated Ritabrata Ghosh, vice president and sector head for corporate ratings at ICRA Ltd. Moreover, the complex nature of processing critical minerals implies that commercialization will take time following the identification of valuable deposits.

Further extending its mineral exploration efforts, India is also preparing to send a team of geologists to Zambia within the next two months. Concurrently, recent reports indicate that the United States is willing to explore partnerships with Congo on critical minerals, following a Congolese senator’s outreach to propose a minerals-for-security deal. Lastly, it is noteworthy that Congo recently announced a four-month suspension of cobalt exports to address a surplus in production.

In conclusion, India’s strategic pursuit of cobalt and copper from Congo signifies a growing commitment to securing essential minerals vital for technology and energy sectors. Despite geopolitical challenges stemming from local conflicts, India remains focused on collaboration, with plans for geological assessments in Congo and Zambia. This endeavor also coincides with broader international interest from the United States regarding mineral partnerships, highlighting the global significance of these resources.

Original Source: m.economictimes.com