India acquires Lithium mining blocks in Argentina

 

India on 15^th Jan 2024, announced the acquisition of five lithium blocks in Argentina.The Mines Ministry, through Khanij Bidesh India Limited (KABIL), signed an agreement with Argentina’s State-owned CAMYEN. 

The State-owned KABIL will start exploration and development of five lithium brine blocks, namely Cortadera-I, Cortadera-VII, Cortadera-VIII, Cateo-2022-01810132, and Cortadera-VI, covering an area of about 15,703 hectares. 

With this agreement, KABIL has obtained Exploration and Exclusivity Rights for five blocks. The agreement will allow the State-owned entity to evaluate, prospect, and explore. Upon subsequent discovery of lithium minerals, exploitation rights for commercial production have also been granted. 

Its known Brine technology  has cost advantage over minerals. Things will  be further cost effective if DLE   deployed  instead  of age old  evaporation technology.

India’s lithium requirements, amounting to around ₹24,000 crore (~ $3B), are met through imports, with the majority of supplies coming from China.

Lithium, often called ‘white gold’, forms the cornerstone of the country’s transition to green energy options. It is used across various categories, including energy storage solutions, batteries for mobile phones, and in EVs. 

India's also in  preliminary discussions with Bolivia to acquire lithium assets.