India acquires five lithium blocks in Argentina
- January 17, 2024
- Posted by: OptimizeIAS Team
- Category: DPN Topics
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India acquires five lithium blocks in Argentina
Subject: Geography
Section: Economic geography
Context:
- The Mines Ministry, through KhanijBidesh India Limited (KABIL), signed an agreement with Argentina’s State-owned CAMYEN for the development of five lithium blocks.
- CAMYEN, which stands for Catamarca Minera Y Energetica Sociedad Del Estado, is based out of the Catamarca province in the Latin American nation.
Details:
- The State-owned KABIL will start the exploration and development of five lithium brine blocks, namely Cortadera-I, Cortadera-VII, Cortadera-VIII, Cateo-2022-01810132, and Cortadera-VI, covering an area of about 15,703 hectares.
- KABIL is also preparing to set up a branch office at Catamarca, Argentina.
- This is the first-ever lithium exploration and mining project undertaken by a government company in India.
- Argentina is part of the world’s “Lithium Triangle”, along with Chile and Bolivia, and the three together have more than half of the world’s total lithium resources.
About lithium:
- Lithium is a non-ferrous metal and is one of the key components in EV batteries.
- It has the symbol Li and is a chemical element.
- It’s a silvery-white metal with a delicate texture.
- It is the lightest metal and the lightest solid element under normal circumstances.
- It must be kept in mineral oil since it is very reactive and combustible.
- It is both an alkali and a rare metal.
India’s lithium reserves:
- According to the Indian Mines Ministry, the government agencies made the small discovery of lithium resources at a site in Mandya, Karnataka. It is the country’s first lithium reserve.
- Now, Lithium inferred resources have been found in the Reasi District of Jammu & Kashmir (UT).
- India’s lithium requirements, amounting to around ₹24,000 crore, are met through imports, with the majority of supplies coming from China.
KhanijBidesh India Ltd (KABIL):
- KABIL is a joint venture between National Aluminium Company (NALCO),Mineral Exploration Corporation Ltd (MECL) and Hindustan Copper Ltd (HCL).
- It was formed in 2019 to identify, acquire, develop and process strategic minerals overseas for use in India.
- It has been concentrating on securing copper, cobalt and lithium and in some cases nickel supplies among the critical minerals identified.
Source: TH BL