New Delhi: The Ministry of Mines, Government of India, achieved a significant milestone with the signing of an agreement between Khanij Bidesh India Limited (KABIL) and the state-owned enterprise of the Catamarca province of Argentina, CATAMARCA MINERA Y ENERGÉTICA SOCIEDAD DEL ESTADO (CAMYEN SE), in Catamarca, Argentina on 15th January 2024.
The agreement was signed in the presence of the Governor of Catamarca, Lic. Raul Jalil, the Vice Governor of Catamarca, Eng. Ruben Dusso, and the Minister of Mines Catamarca, Marcelo Murua, and the 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 the 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 that will not only play a crucial role in driving the energy transition for a sustainable future but also ensure a resilient and diversified supply chain for critical and strategic minerals essential for various industries in India.”
This is the first-ever lithium exploration and mining project by a Government Company of India. 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 hectares, located in the Catamarca province of Argentina. KABIL is also preparing to set up a branch office in Catamarca, Argentina. The project cost is about 200 crores.
With this agreement, KABIL has obtained Exploration and Exclusivity Rights for 5 blocks to evaluate, prospect, and explore and, subsequent to the existence/discovery of lithium mineral, exploitation right for commercial production. This will not only 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.
Argentina is part of the “Lithium Triangle” along with Chile and Bolivia, with more than half of the world’s total lithium resources and having the distinction of having the 2nd largest lithium resources, 3rd largest lithium reserves, and 4th largest production in the 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.