Govt exploring possibilities of investing in lithium mines in Argentina, Australia
New Delhi, India – With the demand for lithium skyrocketing, the central government is looking into the possibility of investing in mining abroad, particularly in Argentina and Australia.
According to top sources, Khanij Bidesh India Limited (KABIL), a joint venture company of the Union Mines Ministry comprised of National Aluminium Company Ltd. (NALCO), Hindustan Copper Ltd. (HCL), and Mineral Exploration and Consultancy Ltd, is looking into investment opportunities in lithium mines in Argentina and Australia.
Due to the unstable geopolitical scenario resulting from the Russia-Ukraine war, which has damaged global supply chains, India is eager to source essential minerals such as lithium both domestically and internationally.
According to highly placed insiders, the government is open to acquiring important minerals mines abroad to avoid a shortage if supplies are disrupted.
In order to continue this effort, the mines ministry’s joint venture company KABIL is looking into investing in lithium mines in countries like as Argentina and Australia, they said. The use of lithium in batteries for electric vehicles has increased its demand in India and around the world.
With the rise of electric vehicles in India due to the government’s green energy drive, lithium is also being obtained and mined domestically. According to industry experts, a lithium-ion battery pack for a single electric vehicle includes approximately 8 kg of lithium.
According to official sources, the Geological Survey of India (GSI) has completed 20 projects on lithium and associated elements in the last five years in Andhra Pradesh, Arunachal Pradesh, Bihar, Chhattisgarh, Himachal Pradesh, Jharkhand, Jammu and Kashmir, Madhya Pradesh, Meghalaya, and Rajasthan.
GSI has taken up 18 projects on lithium and associated elements in Arunachal Pradesh, Chhattisgarh, Jammu & Kashmir, Jharkhand, Meghalaya, Nagaland, and Rajasthan during its field season program 2022-23. However, according to GSI sources, the lithium resource has not yet been supplemented.
Mineral Exploration and Consultancy Limited, a PSU under the Mines Ministry, has begun a lithium exploration project in Ladakh.
Furthermore, the Atomic Minerals Directorate for prospecting and Research, a constituent entity of the Department of Atomic Energy, is conducting lithium prospecting in areas of the Karnataka districts of Mandya and Yadgir.
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Content Credit: The Energyworld.com
