The Indian government has proclaimed that they have identified two lithium mines and one copper mine in Argentina and they are moving forward to acquiring it.
The government of India said that they had sent a team of geologists to Argentina to assess and find potential lithium deposits in the month of November 2022. The statement further added that they have been able to identify a possible source of lithium and copper deposits in the south American country.
According to officials of the ministry of mines quoted in the report, Khanij Bidesh India Ltd. (Kabil) will have ownership or leasing rights to the mines. A joint venture between the National Aluminium Company (Nalco), Hindustan Copper (HCL), and Mineral Exploration Corporation Ltd. It was established in 2019 to ensure the market in India had access to strategic minerals.
An official close to the matter has conveyed that “Subsequent to preliminary assessment, Kabil expressed interest to partner with a state-owned organization there in December for prospecting the identified areas and exploring the possibility of establishing projects for the extraction of lithium in due course of time. Commercial evaluation of the same has begun at our end here”
Argentina is the fourth largest producer of lithium. It is also the third-largest mineral reserve in the world is also found there. In the production of batteries and other electronic goods, lithium is frequently used. The other major producers of the mineral are Australia, the United States, and China.
In the month of December, it has been reported by the news that Kabil is interested in forming a partnership with Argentina-based Camyen to prospect two areas for extracting lithium
In the month of October last year the ministry conveyed that the Camyen group had shared information about two prospective lithium projects in la Aguada and El Indio in Catamarca through the Indian Embassy in Buenos Aires.
Three agreement has already been signed between kabil and Argentina state-run companies in july 2020 to explore sourcing of lithium and other mineral assets in the south American country
Kabil is also venturing into the country of chile for hunting lithium mining projects
A memorandum of understanding for joint investment in Australian lithium and cobalt assets was signed in March by the JV under the mines ministry and the Department of Industry, Science and Resources.
