India and Canada Eye Strategic Collaboration on Critical Minerals

In a significant step toward strengthening bilateral energy and resource ties, Oil India Limited (OIL) has opened discussions with Canada to study and potentially collaborate on critical mineral resources. These minerals, vital for clean energy technologies, electronics, and industrial applications, are increasingly seen as strategic assets in global supply chains.

Key Highlights

• Strategic Dialogue: The initiative comes amid improving India–Canada relations, with both nations seeking to deepen cooperation in energy and resource sectors.
• Focus on Critical Minerals: Minerals such as lithium, cobalt, and rare earth elements are central to the discussions, given their importance in renewable energy and advanced manufacturing.
• Supply Chain Diversification: India aims to reduce dependency on limited global suppliers by partnering with Canada, a country rich in mineral reserves.
• Energy Security: The collaboration aligns with India’s broader energy security goals, complementing its efforts in oil, gas, and renewable energy.
• Global Context: The move reflects a worldwide trend where nations are securing access to critical minerals to support the transition to clean energy and resilient industrial growth.

Sources: Bloomberg, Reuters, Financial Express