Joshi says India-Argentina scripting new chapter in bilateral ties
Khanij Bidesh India Limited (KABIL), a Ministry of Mines company, and the state-owned enterprise of Catamarca province of Argentina CATAMARCA MINERA Y ENERGÉTICA SOCIEDAD DEL ESTADO (CAMYEN SE) have signed a Rs.200 crore agreement for a lithium exploration and mining project.
KABIL will start 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 covering an area of about 15,703 hectare, located in the Catamarca province of Argentina.
KABIL is also preparing to set up a branch office at Catamarca.
With this Agreement, KABIL has obtained Exploration and Exclusivity Right for 5 blocks to evaluate, prospect and explore and subsequent to existence/discovery of lithium mineral, exploitation right for commercial production.
This will meet the need for sourcing lithium for the fast expanding industrial production in India and help in bringing in technical and operational experience for Brine type lithium exploration, exploitation and extraction, said the Ministry on the agreement signed on 15 Jan 2024 in Catamarca.
Argentina is the part of “Lithium Triangle” along with Chile and Bolivia with more than half of world’s total lithium resources and having the distinction of having 2nd largest lithium resources, 3rd largest lithium reserves and 4th largest production in world.
“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,” said the Ministry.
Speaking on the occasion, Minister of Mines 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 Agreement was signed in presence of Governor of Catamarca Lic. Raul Jalil, Vice Governor of Catamarca, Eng. Ruben Dusso and Minister of Mines Catamarca, Marcelo Murua and Ambassador of India to Argentina, Dinesh Bhatia.
The signing ceremony was virtually attended by Minister Joshi and Secretary, Ministry of Mines, V. L. Kantha Rao. Fiinews.com
