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India's Lithium Exploration Journey Begins in Argentina

India's KABIL has successfully secured a $24 million agreement for lithium exploration with Argentina.

Khanij Bidesh India Ltd (KABIL), a state-owned firm in India, recently finalized a lithium exploration agreement valued at 2 billion rupees ($24 million) with an Argentinian state-run enterprise, Catamarca Minera y Energética Sociedad del Estado (CAMYEN SE).

India signs pact with Argentina for Lithium Mining
India signs pact with Argentina for Lithium Mining

About Lithium Exploration Agreement

  • Khanij Bidesh India (KABIL) has recently signed an agreement with Catamarca Minera Y Energetica Sociedad Del Estado (CAMYEN SE), an Argentina-based mining company. The purpose of this collaboration is to jointly work on the exploration and development of five lithium brine blocks.
  • KABIL, a joint venture involving NALCO, MECL, and HCL, is primarily focused on identifying and acquiring strategic minerals from overseas sources for India's utilization. In addition to its operations in Argentina, KABIL is actively exploring potential partnerships and acquisitions in other Latin American countries such as Chile and Brazil, as well as in Australia for lithium and cobalt exploration.
  • This strategic move is of great significance for India as it aims to ensure a consistent and reliable source of lithium, which is an essential element in batteries used in electric vehicles, smartphones, and other applications.
  • This project signifies the first-ever endeavor by a government entity in India to explore and mine lithium. It highlights the government's dedication to gaining proficiency in the exploration, exploitation, and extraction of brine-type lithium, showcasing their commitment to technical and operational excellence.
  • The project primarily focuses on the lithium-rich brines located in Argentina's Catamarca province, covering an expansive area of approximately 15,703 hectares. The estimated cost of this venture amounts to Rs 2 billion ($24 million).
  • In contrast to conventional mining techniques, the extraction of lithium involves pumping brines sourced from salt flats or underground reservoirs to the surface. These brines are then spread out in expansive shallow ponds, where they undergo evaporation to enhance the concentration of lithium before further extraction processes take place.
  • KABIL, a government entity dedicated to securing strategic minerals for India, is planning to establish a branch office in Catamarca, Argentina. This move is significant as Argentina, along with Chile and Bolivia, forms the "Lithium Triangle" and possesses more than half of the world's lithium resources.
  • Recognizing the importance of lithium in transitioning to a greener economy, the Indian government aims to ensure a stable supply of lithium, especially after the discovery of substantial lithium deposits in Rajasthan last year. These domestic deposits are expected to meet 80% of India's lithium demand.
  • As part of its commitment to green technology, the Ministry of Heavy Industries is actively working towards establishing 50 GWh of Advanced Chemistry Cell (ACC) capacity for energy storage through the Performance Linked Incentives program.
  • With 30 GWh already allocated, the ministry has recently announced its intention to re-issue a tender for manufacturing the remaining 20 GWh that is yet to be assigned. This decision aligns with projections from a World Bank report, which forecasts a 500% surge in global demand for lithium by 2050.

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