India and Sri Lanka strengthen ties in critical minerals, exploration, and mining

The discussions focused on fostering bilateral cooperation in mineral exploration and mining, particularly in securing critical minerals essential for both nations' economic and industrial growth, the Ministry of Mines said.

Union Minister of State for Coal and Mines Satish Chandra Dubey held a productive meeting today with Sunil Handunnetti, Minister of Industry and Entrepreneurship Development, Government of Sri Lanka, at Shastri Bhawan, New Delhi the ministry said in a statement.

A key focus was placed on Sri Lanka's vast graphite and beach sand mineral resources, which hold immense potential in supporting the global shift towards clean energy, advanced battery technologies, and high-tech industries.

During the meeting, both leaders acknowledged the importance of strengthening collaboration in mineral exploration and mining opportunities for Indian companies in Sri Lanka.

Dubey emphasised that India's National Critical Mineral Mission is aimed at securing a steady supply of essential raw materials like lithium, graphite, nickel, cobalt, and copper to meet the country's ambitious renewable energy target.

He stated that India is actively working towards granting mining rights for critical minerals, forging international partnerships, and encouraging Indian companies to acquire mineral assets globally.

Both sides engaged in in-depth discussions on exploration opportunities, technological collaboration, and investment prospects in these sectors.

The possibility of mineral exploration on a Government-to-Government (G2G) basis was also discussed, with the Geological Survey of India (GSI) expressing its interest in conducting mineral assessments in Sri Lanka.

Additionally, Sri Lanka requested India to encourage Indian companies to participate in the exploration and development of its beach sand and graphite resources.

The finalization of the Memorandum of Understanding (MoU) on "Cooperation in the Field of Geology and Mineral Resources" between India's Ministry of Mines and Sri Lanka's Geological Survey & Mines Bureau was also discussed.

Dubey expressed confidence that this MoU, once concluded, will provide a strong framework for deepening collaboration in capacity building, mining exploration, and advanced mineral processing.

He reiterated India's commitment to supporting Sri Lanka in skill development, knowledge exchange, and modernising its mining industry through technological and financial assistance.

Speaking on the occasion, Shri Dubey stated, "India and Sri Lanka share a long-standing partnership, and our cooperation in the mining sector will further strengthen our economic ties. By working together, we can harness the full potential of our mineral resources, ensuring mutual growth and sustainability."

The ministry said that the meeting concluded on a positive note, with both leaders agreeing to accelerate efforts toward formalising agreements and exploring new avenues for cooperation in the mineral sector. (ANI)