Catamarca: The Ministry of Mines, Government of India, reached a significant milestone through the signing of a groundbreaking agreement between Khanij Bidesh India Limited (KABIL) and the state-owned enterprise of Catamarca province in Argentina, Catamarca Minera Y Energetica Socioedad Del Estado (Camyen Se).
The signing ceremony, held at Catamarca, Argentina, witnessed the presence of distinguished dignitaries, including the Governor of Catamarca, Lic. Raul Jalil, Vice Governor of Catamarca, Eng. Ruben Dusso, Minister of Mines Catamarca, H. E. Marcelo Murua, and the Ambassador of India to Argentina, H. E. Dinesh Bhatia. The virtual attendance included the Union Minister of Parliamentary Affairs, Coal and Mines, Government of India, H. E. Shri Pralhad Joshi, and Secretary, Ministry of Mines, Government of India, Shri V. L. Kantha Rao.
During the occasion, Shri Pralhad Joshi remarked, “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.”
This monumental agreement marks India’s first-ever lithium exploration and mining project by a Government Company. KABIL will spearhead the exploration and development of five lithium brine blocks in the Catamarca province of Argentina, covering an extensive area of about 15,703 hectares. The lithium brine blocks include Cortadera-I, Cortadera-VII, Cortadera-VIII, Cateo-2022-01810132, and Cortadera-VI. As part of the initiative, KABIL is also preparing to establish a branch office at Catamarca, Argentina, with a project cost estimated at about 200 crores.
With the signed agreement, KABIL secures Exploration and Exclusivity Rights for the five blocks, allowing the evaluation, prospect, and exploration. Subsequent to the existence or discovery of lithium mineral deposits, KABIL will gain exploitation rights for commercial production. This strategic move not only supports India’s quest for sourcing lithium but also brings in technical and operational expertise for brine-type lithium exploration, exploitation, and extraction.
Argentina, forming part of the “Lithium Triangle” alongside Chile and Bolivia, boasts more than half of the world’s total lithium resources. It holds the distinction of having the second-largest lithium resources, third-largest lithium reserves, and the fourth-largest production globally.
This agreement not only fortifies bilateral ties between India and Argentina but also contributes significantly to the sustainable development of the mining sector. It ensures a resilient and diversified supply chain for critical and strategic minerals essential for various industries. The collaboration is expected to play a pivotal role in the global energy transition.