This week’s headline features the story on the potential discussion of US and Indonesia for a deal on EV minerals, Indonesian President Joko Widodo will visit the White House in November to discuss the details of the potential deal. However, as per the sources, the Biden administration is still concerned about environmental, social and governance standards in Indonesia prompting a thorough examination of the feasibility of such an arrangement. Despite promising momentum, there remains substantial groundwork to be covered before any formal agreements can be established.
Europe: Airfares in Europe are experiencing a significant surge beyond inflation rates, according to a statement from Airports Council International (ACI) Europe. This statement has countered claims made by the airline lobby group, the International Air Transport Association (IATA).
America: The IEA's landmark report highlights Latin America and the Caribbean's potential in driving global energy change, emphasizing their abundant resources and clean energy efforts/initiatives. The report advocates increased renewable adoption, energy efficiency, and enhanced access to modern energy while addressing emissions gaps and challenges like energy access and methane emissions.
Asia: The Indian Government is expected to invite bids in the next two weeks for 20 critical mineral blocks, stated a government official. The auction process will involve minerals such as lithium and graphite. Last month, the Union cabinet approved royalty rates for three critical and strategic minerals. The approved royalty rates for lithium, Niobium and REE are 3 per cent, 3 per cent and 1 per cent, respectively.
Australia: Australia’s critical infrastructure under regular and rising attack from hackers, ASD warns: DP World Australia, the country’s biggest ports operator, closed its Sydney, Melbourne, Brisbane and Fremantle port operations after detecting unauthorized access on its network last week. ASD revealed that in the last financial year, the agency responded to 143 incidents at critical infrastructure entities such as ports, up from 95 incidents in the previous year.
Africa: Indian External Affairs Minister (EAM) S Jaishankar highlighted that India's trade with Africa exceeds USD 100 billion and is evenly balanced, emphasizing India's estimated capital today is in excess of USD 80 billion.