The Indian Government will reportedly be investing $ 6 million which will be Rs 45.3 crores in collaboration with the Australian government to examine and discover the cobalt and lithium mines situated in Australia. The reason given by the Indian government in response to this act was to accelerate the growth of its electric vehicles and increase the production of electric vehicles in India.

This move has been called a joint venture between National Aluminum Co, Hindustan Copper Limited as well as Mineral Exploration Corporation Limited. These corporations have signed a contract with the Australian agency named Critical Mineral Facilitation Office.

India is focusing on producing the manufacturing material for electronic materials itself and it is serving $ 2.4 billion to the companies as incentives who are involved in the production of battery cells used for operating an electric vehicle. It is reported that lithium prices have seen an exponential rise due to the demand for making electric vehicles.

Mining is a vital industry, providing the raw materials and energy that our society needs to function. However, mining can have a devastating impact on the environment, with mountains being ripped apart, rivers being polluted and ecosystems being destroyed. 

One of the biggest mining companies in the world is India, which operates mines on five continents. Over the past decade,  India has invested heavily in conducting research about the minefields by finding ways to reduce their impact.However, reports suggest that the government is deeply researching the mines located in Australia. There will be a process of selecting greenfield and brownfield projects to understand their impact and profit margin.

The decision will be based on the quality of assets produced by the mines. It is also true that India has some more countries on its list of extracting minerals for energy production such as Argentina, Chile, and Bolivia.