India Signs Agreement for Lithium Exploration & Mining Project in Argentina

#MinistryofMines #EnergyTransition #Lithium #Sustainability

“This is a historic day for both India and Argentina as we are scripting a new chapter in bilateral ties with the Agreement signing between KABIL and CAMYEN – a step which will not only play a crucial role in driving the energy transition for sustainable future, but also ensure a resilient and diversified supply chain for critical and strategic minerals essential for various industries in India.” - Pralhad Joshi, Union Minister of Parliamentary Affairs, Coal and Mines

January 2024 : The Ministry of Mines, Government of India has achieved a significant milestone with the signing of an agreement between Khanij Bidesh India Limited (KABIL) and the state-owned enterprise of Catamarca province of Argentina CATAMARCA MINERA Y ENERGÉTICA SOCIEDAD DEL ESTADO (CAMYEN SE) at Catamarca, Argentina.

The Agreement was signed in the presence of the Governor of Catamarca Lic. Raul Jalil, Vice Governor of Catamarca, Eng. Ruben Dusso and Minister of Mines Catamarca, H. E. Marcelo Murua and Ambassador of India to Argentina, H. E. Dinesh Bhatia.

This is the first ever lithium exploration and mining project by a Government Company of India. KABIL will start exploration and development of five lithium brine blocks covering an area of about 15,703 hectares, located in the Catamarca province of Argentina.This will not only boost its quest for sourcing lithium for India but will also help in bringing in technical & operational experience for Brine type lithium exploration, exploitation and extraction. KABIL is also preparing to set up a branch office at Catamarca, Argentina. The project cost is about 200 crores.

Argentina is a part of the “Lithium Triangle” along with Chile and Bolivia with more than half of the world’s total lithium resources and having the distinction of having second largest lithium resources, 3rd largest lithium reserves and 4th largest production in the world.

This strategic move not only strengthens the bilateral ties between India and Argentina but also contributes to the sustainable development of the mining sector, ensuring a resilient and diversified supply chain for critical and strategic minerals essential for various industries.

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