The companies Khanij Bidesh India Limited (Kabil) and the Catamarca Minera y Energética Sociedad Del Estado (Camyen SE) signed the agreement, which establishes the exclusivity of the Indian company in the management of five blocks of lithium brine in Argentina to evaluate the possible existence of lithium.

Should deposits be found in the territory, which covers 15,703 hectares, Kabil will be able to begin the commercial exploitation and production of the mineral.

The Minister of Parliamentary Affairs, Coal and Mines of India, Pralhad Joshi, described the opportunity as historic for India and Argentina, as, he believed, it describes a new chapter in bilateral relations.

“The signing of the agreement between Kabil and Camyen signifies a step that will play a crucial role in driving the energy transition towards a sustainable future and ensuring a resilient and diversified supply chain of critical and strategic minerals essential for various industries in India,” he said.

According to India’s Ministry of Mines, this is the first lithium exploration and mining project undertaken by an Indian government company. This will not only boost the search for lithium supply for India, but will also help provide technical and operational expertise, the Ministry added.

Argentina is part of the so-called lithium triangle along with Chile and Bolivia, which concentrates more than half of the 40 million tons estimated worldwide.

jrr/llp/lam/lrd