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India to secure lithium blocks in Argentina

  • June 30, 2023
  • Posted by: OptimizeIAS Team
  • Category: DPN Topics
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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.
Geography India to secure lithium blocks in Argentina
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