Indian state-owned firm to sign lithium pact with Argentina

Reuters | June 29, 2023 | 7:40 am Battery Metals Intelligence Asia Latin America Lithium

rising supplies and China removing subsidies for electric vehicles mean a retreat is on the cards.

Lithium evaporation ponds in Argentina. (Stock image.)

India’s KABIL, a state-owned joint venture formed to scout for minerals overseas, will “shortly” sign an agreement with Argentina to secure a few lithium blocks, a government source with direct knowledge of the matter told Reuters on Wednesday.

India, among the world’s top greenhouse gas emitters, has been pursuing overseas pacts to secure key minerals in resource-rich countries such as Australia, Argentina and Chile.

“Right now, we are concentrating on copper, cobalt and lithium among critical minerals and looking for collaborations with other countries,” the source said on condition of anonymity.

KABIL, short for Khanij Bidesh India Ltd, was formed in August 2019 to identify, acquire, develop and process strategic minerals overseas for use in India.

(By Neha Arora; Editing by Sudipto Ganguly and Richard Chang)