India's First Ever Lithium Exploration And Mining Project, Rs 200 Crore Deal Signed With Argentina

India signed a Rs 200 crore deal with Argentina on Monday (15 January) for the exploration and development of five lithium brine blocks in the Catamarca province.

Given the vast usage of lithium-ion batteries in today's technological era including electric vehicles, lithium mining is a significant step for India.

Union Minister Pralhad Joshi called it "a step which will not only play a crucial role in driving the energy transition for a sustainable future but also ensure a resilient and diversified supply chain for critical and strategic minerals essential for various industries in India."

This is the first ever lithium exploration and mining project by a Government Company of India. It will ensure a resilient and diversified supply chain for critical and strategic minerals essential for various industries.

The agreement was signed between Khanij Bidesh India Limited (KABIL) and the state-owned enterprise Catamarca Minera y Energética Sociedad del Estado (CAMYEN SE).

With this Agreement, KABIL has obtained Exploration and Exclusivity Right for 5 blocks to evaluate, prospect and explore and subsequent to existence/discovery of lithium mineral, exploitation right for commercial production.