An official in the Australian government said on Tuesday that India is in talks with Australia to source rare earth minerals, renewing hopes that there may be a faster resolution to the shortage of rare earth magnets hitting India.
“They (India and Australia) are talking about rare earth and there are blocks available. So there is an opportunity for India to take an early-stage block and have tie-ups with a few companies,” said Malini Dutt, Trade and Investment Commissioner, New South Wales Government, Australia, on the sidelines of India Energy Storage Week (IESW) 2025, organised by India Energy Storage Alliance (IESA) in New Delhi.
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Besides rare earth, both private and public sectors in India have shown interest in copper blocks in Australia, she added.
“There is a lot of interest around copper as well, given some of the conversations I have had. The interest is both from private sector and a PSU which is quite on the hunt for copper (blocks),” Malini said.
“You are aware there are smelters and companies like Adani has made a big investment. There is capacity available. There is an abundance of copper. That is one area people are looking at,” she explained.
With China placing restrictions on the export of rare earth elements in April, India has been reeling under the materials’ shortage that threatens to drastically reduce output of domestic auto and white goods sectors.
China controls over 90 per cent of the global processing capacity for magnets, which are used in trace amounts across a multitude of sectors including automobiles, home appliances, clean energy and electronics.
Critical materials include samarium, gadolinium, terbium, dysprosium and lutetium, which are essential in electric motors, braking systems, smartphones and missile technology.
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