The recent visit by Indian Prime Minister Narendra Modi to Melbourne has culminated in a Joint Statement on Energy Security, with both nations recognising the importance of accelerating the energy transition and supply chain resilience.
It’s a development closely tied to Australia’s mining industry, with strong support for renewable energy sources and the electrification of national energy systems.
Additionally, the statement reinforces both nations’ commitment to strengthening cooperation to maintain a stable, secure, and reliable energy supply, including coal, diesel and other liquid fuels, and natural gas.
Albanese said that both Australia and India are alike, taking steps to address the fuel crisis and securing “resilient and sustainable” energy supply chains.
“India is an important and reliable energy partner for Australia, and we look forward to continuing to enjoy a mutually beneficial energy trading relationship,” he said.
“Australia’s natural resources are vital for other countries’ energy security and stability, and we look forward to becoming a reliable, trusted supplier of uranium to India.”
Just yesterday, Modi’s visit sparked conversations around uranium, with its producers expected to be among the biggest beneficiaries, alongside critical minerals and other commodity exports.
According to The Australian Financial Review, both leaders were to discuss an agreement on uranium exports to India, building on a 12-year-old civil nuclear partnership from 2014.
The statement and meeting between the leaders garnered strong support from the Association of Mining and Exploration Companies (AMEC), with the industry body saying that the support for Australia’s uranium sector is welcomed, especially as it “re-ignites” discussions around overturning mining bans in some national jurisdictions.
AMEC’s chief executive officer Warren Pearce said that Australia is “ideally placed” to help meet the global demand for uranium.
“India’s nuclear energy expansion is exactly the type of opportunity Australia is positioned to capitalise on,” he said.
“We know Australia has world-class uranium resources, with strong safeguards and a proven mining industry.
“Our uranium members should be part of a responsible, long-term supply chain that helps trusted trading partners meet growing energy demands.”
AMEC said that Australia holds some of the world’s largest known uranium deposits in South Australia and the Northern Territory, and that a stronger export pathway with India will help create further confidence for explorers, developers and investors.
Likewise, India is Australia’s fourth-largest source of refined petroleum, as Australia is and remains a longstanding supplier of coal and liquefied natural gas to India.
To this, Minister for Resources Madeleine King said that both nations are “natural partners” for resources and energy, adding that the progress of a refreshed Memorandum of Understanding between Geoscience Australia and the Geological Survey of India will provide a framework for greater scientific collaboration, including resource mapping and mineral exploration, as both countries seek to strengthen critical minerals supply chains.
“The new MOU between our world-class geological organisations, Geoscience Australia and the Geological Survey of India, will help uncover potential new deposits of critical minerals and other resources that will support our growing economic partnership,” King said.
The agreement also comes as Australia and India continue to deepen cooperation across the energy transition, with both Prime Ministers reaffirming the importance of addressing climate change while maintaining stable and reliable energy supplies.
Progress under the India–Australia Renewable Energy Partnership was also recognised, including the opening of the Rooftop Solar Training Academy in Gujarat, which is helping develop Australia’s technical solar expertise within India’s growing renewable energy workforce.
Minister for Climate Change and Energy Chris Bowen said strengthening today’s energy supply chains and investing in tomorrow’s technologies would be essential to long-term energy security.
“As we work to strengthen the energy supply chains of today, Australia and India are working together to accelerate uptake of the energy sources of tomorrow – because renewables and electrification are critical to strengthening our energy security into the future,” he said.
“Both our nations understand the importance of practical action on climate, and the significant economic opportunity the energy transition presents.”
The leaders also acknowledged the Australian Government’s decision to re-award Major Project Status to Perdaman’s Project Ceres in Western Australia, a development expected to support Australia’s largest urea manufacturing facility.
The project has already received almost $750 million in backing through Export Finance Australia and the Northern Australia Infrastructure Facility and is viewed as another example of growing Australia–India industrial collaboration.
King said the project demonstrated the broader opportunities emerging from the strengthened bilateral relationship.
“The Perdaman Project is a great example of how our two nations can work together to help develop a new global supply chain for urea fertiliser, which will improve food security and economic security for our two nations
