In a significant development aimed at harnessing Argentina’s abundant lithium reservoirs, the ministry of mines announced a substantial ₹200 crore investment for lithium exploration and mining activities in the Catamarca province. The government-owned Khanij Bidesh India Limited (KABIL) has forged an agreement with CAMYEN SE (Catamarca Minera Y Energética Sociedad Del Estado), a state-owned enterprise in Catamarca province, marking India’s inaugural lithium exploration and mining project led by a government entity.
KABIL is poised to commence exploration and development endeavours across five lithium brine blocks: Cortadera-I, Cortadera-VII, Cortadera-VIII, Cateo-2022-01810132, and Cortadera-VI, covering an extensive area of approximately 15,703 hectares. Furthermore, KABIL intends to establish a branch office in Catamarca, thereby augmenting its operational presence in the region.
Argentina holds a pivotal role in the lithium triangle, along with Chile and Bolivia, collectively possessing more than half of the world’s lithium resources. Argentina stands as the second-largest holder of lithium resources globally, boasting the third-largest lithium reserves and ranking fourth in lithium production on a global scale.
As reported by ETEnergyworld.com, the strategic initiative not only strengthens the bilateral ties between India and Argentina, but also plays a pivotal role in promoting sustainable growth within the mining sector. Its primary objective is to establish a resilient and diversified supply chain for critical and strategic minerals essential to a range of industries. The initiative reflects a dedication to nurturing resilient and sustainable practices while simultaneously ensuring the availability of crucial resources for industrial requirements.
