Australian resource minister Madeleine King announced that to escalate the climate action targets India and Australia signed a deal to boost the development of critical metal projects and supply chains.
As per the available data, there is a surge in the demand for critical metals like lithium and cobalt as the transportation industry has increased electric vehicle production. In order to opt for cleaner alternatives of energy, there has been a significant rise in demand for electrical vehicles in recent years which is pushing the companies to move in the same direction. China is currently the major supplier of such metal in the world and nations like America and Australia are working to develop new sources of critical metals.
Minister Madeleine King highlighted that Australia is planning to invest about $3.98 million in this three-year collaboration. The collaboration is signed between critical minerals firm Khanij Bidesh India Ltd and the Critical Minerals Facilitation Office of Australia (CMFO). As per the released statement, both the companies will together work and study lithium and cobalt mineral assets of Australia.
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Technology is a useful servant, but a dangerous master, it was rightly said. Electronic devices have grown into an inevitable part of our daily lives.
