India’s strategic Lithium Deal with Argentina

India’s strategic Lithium Deal with Argentina

News: India is on the verge of finalizing a crucial agreement for five lithium blocks in Argentina, marking a pivotal step in diversifying its sources of critical minerals.

Key Highlights:
• The Union Ministry of Mines, through Khanij Bidesh India Ltd (KABIL), has initiated a draft exploration and development agreement with Argentinean miner CAMYEN for potential acquisition and development of five lithium blocks.
• KABIL has also entered a non-disclosure agreement with Chilean miner ENAMI, exploring possibilities for “exploration, extraction, processing, and commercialization” of lithium.
• Over the past year, India has intensified its pursuit of critical minerals, particularly lithium. Lithium plays a crucial role in India’s shift towards green energy, aligning with efforts to reduce carbon footprints.
• Argentina, known for its extensive lithium deposits and cost-effective production, emerges as a key source to fulfill India’s increasing demand for this vital mineral.

About Lithium, applications and reserves:
• Lithium is a chemical element with the symbol Li and atomic number 3. It is a soft, silvery-white alkali metal. It exhibits a metallic luster. Lithium is a good conductor of heat and electricity. The metal is so soft that it can be cut with a knife.
• Applications – Batteries, ceramics and glass, electrical and electronic equipment, metallurgy. It is referred to as ‘white gold’ in context of EVs.
• Bolivia, Argentina and Chile are known to have largest lithium reserves in the world.
• Lithium reserves in India – J&K (Salal-Haimana areas) and Rajasthan.