India conducts cobalt and copper exploration in Zambia

Indian government officials said on Tuesday that the country would send a team of geologists to Zambia, an African country known for its significant mineral reserves, to begin prospecting for cobalt and copper mines.

In March this year, India purchased a plot of land in Zambia for copper and cobalt mining, marking a significant move by India to secure its mineral supply chain in Africa.

The Indian government has acquired an undeveloped plot of land in the north-west provinces of Zambia, with plans to prospect for copper and cobalt there.

Zambia's economy relies heavily on mineral exports, most notably copper and cobalt, as well as gold, zinc, and lead. According to EU data, mining accounted for 12% of Zambia's GDP and provided approximately 70% of its foreign exchange earnings by the end of 2020.

As reported earlier this year by The Indian Express, India's Ministry of Mines is also engaged in similar negotiations with other African countries, including the DRC, Rwanda, Tanzania, and Mozambique, to acquire key mineral assets for prospecting.

India is taking action to secure access to mineral resources crucial for its energy transition. While coal still dominates power generation, India has ambitious plans for renewable energy and is actually achieving its solar power installation targets.

India is also interested in acquiring lithium and copper assets in Chile and is negotiating a trade agreement, the India-Chile Comprehensive Economic Partnership Agreement (CEPA), which may also include trade in key and strategic minerals.

In recent weeks, India has also been seeking ways to retain rare earths domestically.

India has facilities for mining, separating, and refining oxides, and has also developed metal extraction capabilities. However, the country lacks industrial-scale facilities for manufacturing alloys, magnets, and other products from rare earths.