India to secure lithium blocks in Argentina

Subject : Geography

Section: Economic geography

Key Points:

India is in advanced talks to secure lithium blocks in Argentina.
KABIL (KhanijBidesh India Ltd) to soon sign a pact with Argentina to secure a few lithium blocks.
KABIL is also exploring tie-ups and acquisition opportunities for lithium across other LATAM nations like Chile and Brazil
India, currently, imports all major components that go into lithium-ion cell manufacturing
Argentina, together with Chile and Bolivia, forms the so-called “Lithium Triangle” and is currently the fourth largest producer and has the third largest world reserve of lithium.
KABIL is said to have entered into MoUs for exploration of two lithium blocks and three cobalt blocks in Australia.

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 for identifying, acquisition, development and processing of 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.