India have impressed the Central African Republic showing unique infrastructure & other developments and been invited to mine its abundant natural resources ranging from oil, uranium and lithium to gold, diamonds, iron ore and copper.
India is in need of essential natural resources to feed its vast expanding economy and we need their technical know-how. It's like a win-win partnership for both, the African nation's Minister for Economy Lea Doumta, who led a delegation on a two-day visit to New Delhi, made a statement that, ”We want the Indian government and its companies to help us build infrastructure like roads as well as in sustainable exploitation of our mineral wealth.”
Doumta stated that her country is "mighty impressed" with India's growth and development model and is keen to emulate it. "We see India as a role model and are keen to partner with its government and companies in our economic progress," she commented. Bordered by Cameroon, Chad, the two Congos, and the two Sudans, the Central African Republic is stated as the poorest nations despite its abundant natural
resources. The former French colony has 470 minerals, with oil, gold and diamonds consisting of the greatest potential, according to the World Bank.Diamonds account for approximately half of the country's total export earnings. In fact, landlocked in the heart of Africa, this nation that is equal to the size of Ukraine has the largest reserve of iron ore in the world and producing the best quality of rare wood and timber across the globe. It also has uranium, iron ore, copper and manganese deposits.
"We have all the resources but not enough technological and financial resources to mine them," Doumta commented. Indian companies such as mining conglomerate Vedanta Ltd can come and look at resources in the country, she stated, adding the Central African Republic is mapping its mineral wealth.
The Central African Republic also has deposits of lithium, which is a critical component used in batteries for electric vehicles or EVs. It can boost up the potential for a country like India that is short on lithium and has to import it for its fast-expanding EV fleet.
Situated on a fertile plateau and abundant in water resources, the Central African Republic has considerable agricultural potential and is now throwing open its land rights to the outside world, wherein investors can buy large land parcels online, the minister stated, adding it is only the second country in the world that has Bitcoin as an official currency and such purchases can be done in Bitcoins.
She stated that, her country also plans to tokenise all the available agricultural land in the nation. Doumta, the fourth-senior most minister in the government, stated her country was also keen to open an embassy in New Delhi and wants India to do so in Bangui.
The African nation has signed a memorandum of understanding (MoU) with Bengaluru-based EV manufacturer Pravaig Dynamics. Under the MoU, the company has the access over strategic resources such as lithium and rhodium and also operate the country's first special economic zone (SEZ).
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