Argentina to boost to India's lithium quest
NEW DELHI : The governor of Argentina’s lithium-rich Catamarca province Raúl Jalil is to visit India this year, said the country’s largest state-owned mining firm Camyen, in a potential boost to in India’s lithium sourcing play. India is keen to secure assured supplies of lithium, widely used in making batteries for electric vehicles. In January this year, Camyen and India’s state-owned mining firm Kabil signed an agreement for the latter to explore and develop five lithium blocks.
“This will not only boost its (Kabil’s) quest for sourcing lithium for India but will also help in bringing in technical and operational experience for Brine type lithium exploration, exploitation and extraction," the mines ministry said at the time. Kabil is expected to spend ₹200 crore on the project. A number of international firms, including China’s Zijin Mining Group, have already made forays into Argentina on lithium.
The country is the world’s fourth largest lithium producer and has the third largest reserves in the world, after Chile and Australia. Chinese firms have also established a footprint in Bolivia and Chile, which form part of the “lithium triangle" along with Argentina. China also imports a large amount of lithium from foreign suppliers in Australia and Latin America, and has over half of the world’s lithium refining capacity.
It has also made forays into African markets with some success. “It is not too late for Indian companies to enter Argentina for lithium exploration but if you consider the five years of exploration, Indian firms should start to move in and take action in terms of involvement in the development of lithium," Camyen president president Susana Peralta told Mint. “We really want to get some other investors,
. Read more on livemint.com
