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India’s largest iron ore miner is believed to be nearing an agreement with Gina Rinehart in WA lithium as the country seeks to rapidly scale up in battery minerals to support its ambitious electric vehicle plans.

During his meeting with Rinehart, the prime minister highlighted the reforms and initiatives being undertaken in India and invited her to partner in technology, investment and skilling in the mining and minerals sector, a statement by the Ministry of External Affairs in New Delhi said.Rinehart said that there are huge business opportunities between India and Australia. The Indian economy is growing at a healthy pace and reached about USD 3.5 trillion and there are plans to take it to USD 32 trillion in the next 25 years. “Growth in the future is going to be huge…Australia really needs to work harder to develop its relations with India,” she said, adding India has taken several steps to attract foreign investments by cutting approvals and regulations.

WA mining billionaire Gina Rinehart has held talks with Indian Prime Minister Narenda Modi during his Australian visit, days after it was revealed her company is looking at a lithium partnership with India’s biggest iron ore miner. Mrs Rinehart, speaking to media on Tuesday after her meeting with Mr Modi, said the discussions were “exciting” and the trade potential between the two countries was “huge”. ‘“It was a very interesting and exciting meeting with PM Modi, who I have met with several times in the past, in both Australia and New Delhi,” she said.

Mining billionaire Gina Rinehart had talks with Indian Prime Minister Narendra Modi in Sydney on Tuesday as his government eyes investments in critical minerals in Australia. Mrs Rinehart, Australia’s richest person, is a long-time fan of Mr Modi and India has made no secret of its desire to secure lithium assets. Speaking to media after the meeting on Tuesday, Mrs Rinehart said India had seen unprecedented economic growth under his leadership and investment-friendly policies. “The growth recently has been huge, the growth in the future is going to be huge. Australia really needs to work harder to develop its relations with India,” she said.

Howard-Smith’s new role as chair will see him play a part in promoting the RCII to industry and encouraging participation. “The Resources Community Investment Initiative builds on the State’s ongoing collaboration with WA’s resources industry and provides a mechanism to partner to deliver projects with lasting benefits for generations of Western Australians,” Western Australian Premier Mark McGowan said. “I welcome Reg Howard-Smith’s appointment as the inaugural chair of the RCCI Advisory Committee – his extensive experience in both the resources industry and working with government will help to ensure this initiative is a success.

The Resources Community Investment Initiative launched in November has already had $750 million committed by the sector’s biggest companies: Rio Tinto, BHP, Woodside, Chevron, Mineral Resources, Hancock Prospecting and its subsidiaries Roy Hill and Atlas Iron.