India’s KABIL inks lithium mining agreement in Argentina’s Catamarca
In a momentous development for India’s mining sector, Khanij Bidesh India Limited (KABIL) has signed a pioneering agreement with CATAMARCA MINERA Y ENERGÉTICA SOCIEDAD DEL ESTADO (CAMYEN SE), a state-owned enterprise in the Catamarca province of Argentina. This landmark deal, signed in the presence of high-ranking officials from both countries, signifies India’s first-ever government-led lithium exploration and mining project abroad.
Historic Lithium Mining Agreement between KABIL and CAMYEN
The signing ceremony, held in Catamarca, Argentina, was graced by notable dignitaries including the Honorable Governor of Catamarca, Lic. Raul Jalil; Vice Governor, Eng. Ruben Dusso; Minister of Mines Catamarca, H. E. Marcelo Murua; and the Ambassador of India to Argentina, H. E. Dinesh Bhatia. Virtually attending were India’s Union Minister of Parliamentary Affairs, Coal and Mines, H. E. Shri Pralhad Joshi, and the Secretary of the Ministry of Mines, V. L. Kantha Rao. Representing KABIL were Chairman and CMD NALCO Shri Sridhar Patra, and CEO & NALCO Director (Commercial) Shri Sadashiv Samantaray.
India-Argentina Partnership: KABIL’s Historic Lithium Mining Project in Catamarca
KABIL, a joint venture formed by National Aluminium Company Ltd. (NALCO), Hindustan Copper Ltd. (HCL), and Mineral Exploration Company Ltd. (MECL), has embarked on this venture as a significant stride towards India’s critical mineral security and the ‘Aatmanirbhar Bharat’ initiative. The project involves the exploration and development of five lithium brine blocks in the Catamarca province, covering an area of approximately 15,703 hectares. The blocks include Cortadera-I, Cortadera-VII, Cortadera-VIII, Cateo-2022-01810132, and Cortadera-VI.
Strengthening India-Argentina Bilateral Ties and Mining Sector
This agreement grants KABIL exclusive rights for exploration and, upon discovery, the exploitation of lithium mineral for commercial production. The project, valued at about 200 crores, is not just a boost for India’s quest for sourcing lithium but also brings valuable technical and operational experience in brine-type lithium exploration and extraction.
The collaboration is significant in the context of Argentina’s position within the “Lithium Triangle,” which includes Chile and Bolivia, holding over half of the world’s total lithium resources. Argentina stands as the second-largest holder of lithium resources, the third-largest in reserves, and the fourth-largest in production globally.
In his remarks, Union Minister Shri Pralhad Joshi highlighted the historic nature of the agreement, emphasizing its role in driving energy transition for a sustainable future and ensuring a resilient and diversified supply chain for critical and strategic minerals essential for various industries in India.
The KABIL-CAMYEN partnership marks a new chapter in bilateral relations between India and Argentina, bolstering both nations’ commitments to sustainable mining practices and enhancing their position in the global mining industry.