India to develop five lithium blocks in Argentina with an estimated cost of INR 200 crores

On January 15, 2024, the Ministry of Mines, Government of India, signed an agreement between Khanij Bidesh India Limited (KABIL) and Argentina’s state-owned enterprise CATAMARCA MINERA Y ENERGÉTICA SOCIEDAD DEL ESTADO (CAMYEN SE) in Catamarca. The lithium exploration and mining initiative undertaken by the Government Company of India, Khanij Bidesh India Limited (KABIL), is set to commence exploration and development activities in five lithium brine blocks, namely

• Cortadera-I,

• Cortadera-VII,

• Cortadera-VIII,

• Cateo-2022-01810132, and

• Cortadera-VI

Covering an area of approximately 15,703 hectares in the Catamarca province of Argentina. As part of the project, KABIL is also in the process of establishing a branch office in Catamarca, Argentina, with an estimated project cost of around INR 200 crores.

With this agreement, KABIL has obtained Exploration and Exclusivity Rights for 5 blocks, allowing for the evaluation, prospecting, and exploration of lithium. In the event of the discovery of lithium mineral deposits, the company will secure exploitation rights for commercial production. This development is expected to contribute to India’s lithium sourcing efforts and the acquisition of technical and operational expertise in brine-type lithium exploration, exploitation, and extraction, as mentioned by the official statement. Argentina is part of the “Lithium Triangle,” alongside Chile and Bolivia, collectively holding more than half of the world’s total lithium resources. Argentina distinguishes itself by possessing the second-largest lithium resources and the third-largest lithium reserves, ranking fourth in global lithium production.

The signing ceremony, held in Catamarca, Argentina, included the presence of key dignitaries such as Governor Lic. Raul Jalil, Vice Governor Eng. Ruben Dusso, Minister of Mines Catamarca H. E. Marcelo Murua, and Ambassador of India to Argentina H. E. Dinesh Bhatia. Notably, the Union Minister of Parliamentary Affairs, Coal and Mines, Government of India, H. E. Shri Pralhad Joshi, and Secretary, Ministry of Mines, Government of India, Shri V. L. Kantha Rao, participated virtually in the event.

Speaking on the occasion, Shri Pralhad Joshi said, “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.”

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