The signing of an agreement between Khanij Bidesh India Limited (KABIL) and CATAMARCA MINERA Y ENERGÉTICA SOCIEDAD DEL ESTADO (CAMYEN SE), the state-owned enterprise of the province of Catamarca in Argentina, on January 15, 2024, in Catamarca, is a significant milestone for the Ministry of Mines, Government of India.
The signing event was virtually attended by H.E. Shri Pralhad Joshi, Union Minister of Parliamentary Affairs, Coal and Mines, and Shri V. L. Kantha Rao, Secretary, Ministry of Mines, Government of India.
Shri Pralhad Joshi, who was speaking at the event, 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.” .
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 Hectare, located in the Catamarca province of Argentina.KABIL is also preparing to set up a branch office at Catamarca, Argentina. The project cost is about 200 crores.
With the signing of this agreement, KABIL has acquired the exclusive right to investigate and examine five blocks, as well as the right to utilize those blocks for commercial production should lithium minerals be found and evaluated. This would not only aid it in its drive to get lithium for India, but it will also bring in technical and operational knowledge for brine type lithium exploration, exploitation, and extraction.
Argentina, along with Chile and Bolivia, forms the “Lithium Triangle” with more than half of the world’s total lithium resources, as well as the distinction of having the second greatest lithium resources, third largest lithium reserves, and fourth largest output 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.
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