India and Argentina Forge Historic Partnership in Lithium Exploration Venture
Strategic Collaboration for Sustainable Energy and Diversified Supply Chains
The Ministry of Mines in India marked a significant achievement on Monday with the signing of an agreement between Khanij Bidesh India Limited (KABIL) and the state-owned enterprise of Catamarca province in Argentina, known as CATAMARCA MINERA Y ENERGÉTICA SOCIEDAD DEL ESTADO (CAMYEN SE).
This collaboration aims to tap into valuable lithium resources in Argentina, a member of the Lithium triangle, showcasing the commitment of both nations to advance in the field of mining and energy.
This project aims to enhance India’s access to lithium, a crucial resource, by developing the lithium mining and related industries in both countries.
The collaboration not only strengthens the supply chain for essential materials but also contributes to the Global Net Zero goals by promoting diversification in the supply chain.
Minister for Mines Pralhad Joshi expressed the significance of the moment by stating, “This step is not only crucial for propelling the energy transition towards a sustainable future but also for establishing a robust and diversified supply chain for critical and strategic minerals vital to various industries in India.”
1st-ever Lithium exploration & mining project by an Indian PSU
This marks the inaugural government-led Lithium exploration and mining venture for India.
KABIL is set to start the exploration and development of five lithium brine blocks, namely Cortadera-I, Cortadera-VII, Cortadera-VIII, Cateo-2022-01810132, and Cortadera-VI, covering an extensive area of approximately 15,703 hectares in the Catamarca province of Argentina.
In addition to the mining operations, KABIL is gearing up to establish a branch office in Catamarca, Argentina. The estimated cost of the entire project is around 200 crores.
With this Agreement, KABIL has obtained exploration and exclusivity right for 5 blocks to evaluate, prospect and explore and subsequent to existence/discovery of lithium mineral, exploitation right for commercial production.
“This will not only boost its quest for sourcing Lithium for India but will also help in bringing in technical and operational experience for Brine-type lithium exploration, exploitation and extraction,” said the Mines Ministry.
Lithium Exploration, will strengthen ties between India & Argentina:
Argentina is a key player in the “Lithium Triangle,” which also includes Chile and Bolivia. Together, these countries hold over half of the world’s total lithium resources.
Argentina stands out with the second-largest lithium resources, the third-largest lithium reserves, and the fourth-largest production globally.
This underlines the strategic importance of Argentina in the global lithium market and reinforces the significance of India’s collaboration with the country for lithium exploration and mining.
The government emphasized that this strategic move not only fortifies the mutual relations between India and Argentina but also plays a vital role in the sustainable development of the mining sector.
It ensures the establishment of a robust and diversified supply chain for critical and strategic minerals essential for various industries.
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The agreement was signed in the presence of key officials, including Governor of Catamarca Lic. Raul Jalil, Vice Governor of Catamarca Eng.
Ruben Dusso, Minister of Mines Catamarca H.E. Marcelo Murua, and Ambassador of India to Argentina H.E. Dinesh Bhatia. The signing ceremony had virtual attendance from Minister for Mines Pralhad Joshi and Mines Secretary VL Kantha Rao.
