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.