Catamarca: For the first time ever, a Government-owned company of India will do a lithium exploration and mining project in Argentina. The agreement in this regard was signed between Khanij Bidesh India Limited (KABIL) and the state-owned enterprise of Catamarca province of Argentina Catamarca Minera Y Energêtica Sociedad Del Estado (Camyen SE) at Catamarca, Argentina today.
With this agreement, KABIL obtained Exploration and Exclusivity Rights for 5 blocks to evaluate, prospect and explore and subsequent to the existence/discovery of lithium mineral, exploitation rights for commercial production. This is expected not only to boost its quest for sourcing lithium for India but will also help in bringing in technical and operational experience for Brine-type lithium exploration, exploitation and extraction.
The project cost is about 200 crores. KABIL will start the exploration and development of 5 lithium brine blocks viz 1. Cortadera-I, 2. Cortadera-VII, 3. Cortadera-VIII, 4. Cateo-2022-01810132 and 5. Cortadera-VI covers an area of about 15,703 hectares, located in the Catamarca province of Argentina.KABIL is also preparing to set up a branch office in Catamarca.
Argentina is the part of “Lithium Triangle” along with Chile and Bolivia with more than half of the world’s total lithium resources and has the distinction of having the 2nd largest lithium resources, the 3rd largest lithium reserves and the 4th largest production in the world.
The agreement was signed in the presence of the Governor of Catamarca Raul Jalil, Vice Governor of Catamarca, Ruben Dusso, Minister of Mines of Catamarca, Marcelo Murua and Ambassador of India to Argentina, Dinesh Bhatia. The signing ceremony was virtually attended by the Union Minister of Parliamentary Affairs, Coal and Mines, Government of India, Pralhad Joshi and Secretary, Ministry of Mines, Government of India, V. L. Kantha Rao.
Speaking on the occasion, 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”.
The Ministry of Mines stated that this strategic move not only strengthens the bilateral ties between India and Argentina but also contributes to the sustainable development of the mining sector, ensuring a resilient and diversified supply chain for critical and strategic minerals essential for various industries.
– global bihari bureau
