India’s KABIL acquires five lithium blocks in Argentina

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Last Updated18/01/2024

Recently, India announced the acquisition of five lithium blocks in Argentina.
The Mines Ministry, through Khanij Bidesh India Limited (KABIL), signed an agreement with Argentina’s State-owned CAMYEN.

With this agreement, KABIL has obtained Exploration and Exclusivity Rights for five blocks.
The agreement will allow the State-owned entity to evaluate, prospect, and explore.
Upon subsequent discovery of lithium minerals, exploitation rights for commercial production have also been granted.
This is the first-ever lithium exploration and mining project undertaken by a government company in India.
This will not only boost the country’s quest for sourcing lithium but also bring in technical and operational experience for brine-type lithium exploration, exploitation, and extraction.
India’s lithium requirements, amounting to around ₹24,000 crore, are met through imports, with the majority of supplies coming from China.
Lithium, often called ‘white gold’, forms the cornerstone of the country’s transition to green energy options.
It is used across various categories, including energy storage solutions, batteries for mobile phones, and in EVs.
Argentina is part of the world’s “Lithium Triangle”, along with Chile and Bolivia, and the three together have more than half of the world’s total lithium resources.
Argentina also has the distinction of having the second-largest lithium resources, third-largest lithium reserves and forth-largest production in the world.