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."

Argentina is the part of “Lithium Triangle” along with Chile and Bolivia with more than half of the world’s total lithium resources. It has the second-largest lithium resources, third-largest lithium reserves and fourth-largest production in the world.

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.