The Indian government is set to embark on an exploration of critical metals opportunities in Namibia and several other African countries beginning this year.
VL Kantha Rao, the secretary of the mines ministry, disclosed this initiative to the Indian Mining Industry last Friday, revealing a focus on offshore mineral mining in Africa.
“We are actively pursuing opportunities in Zambia, Namibia, Congo, Ghana, and Mozambique for critical minerals,” Rao stated.
Additionally, Rao mentioned ongoing discussions with Australia concerning lithium blocks, indicating a comprehensive approach towards securing vital resources for India’s industrial needs.
Notably, the Indian government holds a 29.54% stake in the Vedanta Group, which operates the Skorpion Zinc Mine in Namibia.
Despite Vedanta’s intention to divest the Skorpion Zinc Mine and other assets in South Africa to Hindustan Zinc, a deal that would consolidate resources under Indian ownership, the Indian government intervened.
Rao emphasized the government’s objection to Vedanta Group’s proposal to unbundle Hindustan Zinc, expressing skepticism as shareholders about the proposed transaction.
“We have not endorsed the proposal. Based on the available reports, we remain unconvinced,” Rao affirmed.
