India joins the race for lithium reserves - The Hindu BusinessLine thehindubusinessline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thehindubusinessline.com Daily Mail and Mail on Sunday newspapers.
Despite recent discoveries of deposits in Kashmir, India is still dependent on minerals from China. Last week, New Delhi and Buenos Aires inked an agreement to explore and develop five lithium deposits in Argentina’s Catamarca province, a deal that could open the door to other forms of cooperation.
In a move towards securing critical minerals for the energy transition, India is set to invest approximately Rs 200 crore ($24 million) in exploring and developing five lithium mines in Argentina.
This is based on a report published by the Press Trust of India (PTI).
India signed a Rs 200 crore deal with Argentina on Monday (15 January) for the exploration and development of five lithium brine blocks in the Catamarca province
The deal will provide a platform for NALCO, HCL and MECL to understand the technical know-how of exploration and extraction of lithium, a key mineral used in batteries.