India And Argentina Collaborate To Explore Lithium Mines

India And Argentina Collaborate To Explore Lithium Mines

Argentina and India have joined hands to set up a lithium exploration and mining project in Catamarca, Argentina. The government will explore the development of 5 lithium brine blocks viz 1. Cortadera-I, 2. Cortadera-VII, 3. Cortadera-VIII, 4. Cateo-2022-01810132 and 5. Cortadera-VI by Khanij Bidesh India Limited (KABIL).

With this Agreement, KABIL has obtained ‘Exploration and Exclusivity Rights’ for five blocks to evaluate, prospect, and explore, and after the existence/discovery of lithium mineral, exploitation rights for commercial production. This will not only boost sourcing lithium for India but will also help in bringing in technical & operational experience for Brine-type lithium exploration, exploitation, and extraction.

Union Minister of Ministry of Mines Pralhad Joshi, signed an agreement with the state-owned enterprise of Catamarca province of Argentina to undertake this exploration. Through this agreement between Khanij Bidesh India Limited (KABIL) and the state-owned enterprise of Catamarca province of Argentina.

The exploration claims to cover an area of about 15,703 hectares, located in the Catamarca province of Argentina. With this new agreement, KABIL is also preparing to set up a branch office in Catamarca, Argentina. The project cost is about Rs 200 crores.

On the lines of agreement, the union minister said, “Argentina is the part of lithium triangle along with Chile and Bolivia with more than half of the world’s total lithium resources and the distinction of having the 2nd largest lithium resources, 3rd largest lithium reserves, and 4th largest production in the world.”

“This strategic move not only strengthens the bilateral ties between India and Argentina but also contributes to the sustainable development of the mining sector, ensuring a resilient and diversified supply chain for critical and strategic minerals essential for various industries,” he added.

While speaking on the occasion, Pralhad Joshi said that “This is a historic day for both India and Argentina as we are scripting a new chapter in bilateral ties with the Agreement signing between KABIL and CAMYEN – a step which will not only play a crucial role in driving the energy transition for sustainable future, but also ensure a resilient and diversified supply chain for critical and strategic minerals essential for various industries in India.”