India-Argentina Agreement for Lithium Blocks

• 20 Jan 2024

Recently, India through Khanij Bidesh India Limited (KABIL) has signed an agreement with Argentina’s State-owned CAMYEN for exploration and development of five lithium brine blocks in Argentina.

• The agreement will allow KABIL to evaluate, prospect, explore. Upon subsequent discovery of lithium minerals, exploitation rights for commercial production have also been granted.
  • This is the first-ever lithium exploration and mining project undertaken by a government company in India.
• Lithium, often called ‘white gold’, forms the cornerstone of the country’s transition to green energy options.
  • It is used across various categories, including energy storage solutions, batteries for mobile phones, and in Electric Vehicles (EVs).
• Argentina is part of the world’s “Lithium Triangle”, along with Chile and Bolivia.
  • The three nations together have more than half of the world’s total lithium resources.
  • Argentina also has the distinction of having the 2^nd-largest lithium resources, 3^rd-largest lithium reserves and 4^th-largest lithium production in the world.

Read More: GSI Discovers Lithium Resources in J&K