State owned KABIL signed pact with Argentina for lithium exploration

KABIL signed a pact with Argentina: State-owned Khanij Bidesh India Limited (KABIL) signed the pact with the state-owned enterprise of Catamarca province of Argentina at Catamarca for Lithium exploration in Argentina on Monday. 

This is the first ever lithium exploration and mining project by a Government Company of India.

“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 a sustainable future but also ensure a resilient and diversified supply chain for critical and strategic minerals essential for various industries in India,” Minister of Coal Prahlad Joshi said on Monday. 

What KABIL will do? 

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. The project cost is about 200 crores.

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, 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.