In a historic development, the Ministry of Mines, Government of India, marked a significant milestone by signing an agreement for a pioneering lithium exploration and mining project in Argentina. The agreement, formalized between Khanij Bidesh India Limited (KABIL) and Catamarca Minera y Energética Sociedad del Estado (CAMYEN SE), the state-owned enterprise of Catamarca province, holds immense promise for India’s pursuit of sustainable energy and a resilient supply chain for critical minerals.
The signing ceremony, graced by the presence of Governor of Catamarca Lic Raul Jalil, Vice Governor Eng Ruben Dusso, Minister of Mines Catamarca H.E. Marcelo Murua, and Indian Ambassador to Argentina H.E. Dinesh Bhatia, took place virtually with Union Minister of Mines Pralhad Joshi and Secretary VL Kantha Rao participating from India.
Addressing the occasion, Minister Pralhad Joshi emphasized the historical significance of the agreement, stating, “This is a historic day for both India and Argentina as we are scripting a new chapter in bilateral ties. The agreement between KABIL and CAMYEN will not only drive the energy transition for a sustainable future but also ensure a resilient and diversified supply chain for critical minerals essential to various industries in India.”
This groundbreaking project represents India’s first-ever foray into lithium exploration and mining by a government company. KABIL is set to initiate exploration and development activities across five lithium brine blocks – Cortadera-I, Cortadera-VII, Cortadera-VIII, Cateo-2022-01810132, and Cortadera-VI – covering an expansive area of about 15,703 hectares in the Catamarca province of Argentina. The total project cost is estimated at ₹200 crores.
In addition to the exploration efforts, KABIL is gearing up to establish a branch office in Catamarca, Argentina, further cementing the collaborative ties between the two nations. The agreement grants KABIL Exploration and Exclusivity Rights for the five blocks, allowing the evaluation, prospecting, and exploration of lithium resources. Upon the identification of lithium mineral deposits, the company will gain exploitation rights for commercial production.
Argentina, being part of the renowned ‘Lithium Triangle’ alongside Chile and Bolivia, boasts more than half of the world’s total lithium resources. It holds the distinction of having the second-largest lithium resources, third-largest lithium reserves, and fourth-largest production globally.
This strategic move not only enhances the bilateral relationship between India and Argentina but also contributes significantly to the sustainable development of the mining sector. It ensures a robust and diversified supply chain, critical for various industries dependent on strategic minerals.
