India steps up rare earth outreach in Myanmar with mining forum in Mandalay

As China maintains its position as the main foreign investor in Myanmar’s critical minerals sector, India has stepped up its outreach in the rare earth sector by holding a mining forum in Mandalay. The move comes as Myanmar’s military junta seeks to attract interest from foreign powers looking to secure access to the country’s abundant mineral resources. A delegation from India’s Ministry of Mines and Coal participated in the “India-Myanmar Mining Forum” held in Mandalay. The forum aimed to explore opportunities for cooperation in the mining sector between the two countries. Myanmar is rich in a variety of mineral resources, including rare earths. These minerals are essential for high-tech industries and renewable energy technologies. India aims to diversify its sources of these strategic minerals and reduce its dependence on China, which currently dominates a large portion of the global rare earth supply. The forum provided a platform for Indian companies to explore investment opportunities in Myanmar’s mineral projects and build partnerships with Myanmar authorities. However, Myanmar’s political and economic instability poses significant risks for foreign investment. The country has been facing turmoil and international sanctions since the military coup in 2021. Despite these challenges, India recognizes the strategic importance of securing access to Myanmar’s mineral resources and is deepening its engagement in this sector.