Catamarca, Argentina & Delhi, India (January 15, 2024) – In a landmark move for both India and Argentina, Khanij Bidesh India Limited (KABIL), a state-owned enterprise, has signed a historic agreement with CAMYEN SE, a state-owned entity of Catamarca province, Argentina, for the exploration and development of five lithium blocks. This strategic partnership marks a significant milestone in India’s quest for securing a resilient and diversified supply chain for this critical mineral, fueling its ambitious electric vehicle (EV) goals.
A New Chapter in Bilateral Ties:
Union Minister of Parliamentary Affairs, Coal and Mines, Shri Pralhad Joshi, hailed the agreement as “a historic day for both India and Argentina,” emphasizing its role in bolstering bilateral ties and driving the clean energy transition. This first-of-its-kind project for a government company from India signifies a crucial step towards securing a sustainable future for both nations.
Unlocking Lithium Riches:
KABIL will spearhead the exploration and development of five lithium brine blocks – Cortadera-I, -VII, -VIII, Cateo-2022-01810132, and Cortadera-VI – spanning an impressive 15,703 hectares in Catamarca. With an initial investment of INR 200 crore, the project paves the way for KABIL to not only secure lithium resources for India but also gain invaluable technical and operational expertise in brine-type lithium exploration and extraction.
Tapping into the “Lithium Triangle”:
Argentina, boasting the second-largest lithium resources globally, forms part of the renowned “Lithium Triangle” alongside Chile and Bolivia. This partnership grants KABIL exclusive rights to evaluate, prospect, and explore these five blocks, with the potential to transition into commercial production upon successful lithium discovery.
Beyond Bilateral Benefits:
This strategic move transcends bilateral benefits, contributing significantly to the sustainable development of the mining sector. By establishing a diversified supply chain for critical and strategic minerals, the agreement ensures long-term stability for various industries across India.
Looking Ahead:
KABIL is gearing up to establish a branch office in Catamarca, further solidifying its commitment to the project and long-term collaboration with Argentina. This landmark agreement marks a pivotal moment for India’s lithium ambitions, paving the way for a secure and sustainable future powered by clean energy.
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