Technology’s minerals: India hunts for lithium, copper, and cobalt sources overseas
Virendra Pandit
New Delhi: In its quest to boost multiple forays into clean power, India is exploring the acquisition of dependable mines overseas to ensure supplies of strategic minerals like lithium, copper, and cobalt.
It has just identified three important mines in Argentina—two lithium and a copper—which it may acquire or lease soon, the media reported.
Lithium is widely used in manufacturing batteries and other electronic products. Australia, the US, and China are the other major producers of the mineral. Copper and cobalt are also key ingredients in several industries.
The South American country is the fourth-largest producer of lithium and has the third-largest reserve of this mineral in the world.
If India acquires these mines, the reports quoting officials said, their ownership or leasing rights will rest with Khanij Bidesh India Ltd (Kabil), a joint venture of the National Aluminium Company (Nalco), Hindustan Copper Ltd (HCL) and Mineral Exploration Corporation Ltd (MECL).
Kabil was formed in 2019 to ensure the supply of strategic minerals in India’s market. It signed three agreements with the Argentinian Government-run companies JEMSE, CAMYEN, and YPF in 2020 to explore sourcing of lithium and other mineral assets in the South American country.
It is also exploring joint lithium mining projects in Chile as well.
In November 2022, India sent geologists to South America to “assess potential lithium deposits.”
After a preliminary assessment, Kabil expressed interest to partner with a state-owned organization CAMYEN, in Argentina, to prospect two identified areas for extracting lithium.
Catamarca Minera y Energética Sociedad del Estado (CAMYEN) is the state mining company of the Province of Catamarca in Argentina.
Commercial evaluation of the projects has also begun, the reports said.
CAMYEN had, in October 2022, shared information through the Indian Embassy in Buenos Aires about two prospective lithium projects in La Aguada and El Indio in Catamarca.
In March, the JV under the Union Ministry of Mines also signed a Memorandum of Understanding (MoU) with the Department of Industry, Science and Resources, Australia, for joint investment in lithium and cobalt assets in that country.
