Coal India Eyes South American Mineral Riches

18 Sep 2024 , 04:03 PM

Coal India is looking for essential minerals in Argentina and is in talks with Chilean officials about lithium, India’s federal mines secretary V. L. Kantha Rao said on Wednesday.

India has been looking into ways to ensure supplies of lithium, a vital raw ingredient required to produce electric vehicle batteries.

Last year, Prime Minister Narendra Modi’s government identified 30 minerals, including lithium, nickel, titanium, vanadium, and tungsten, as crucial to driving the adoption of renewable energy.

“Coal India and some other companies are looking at Argentina,” Rao told reporters on the sidelines of an industry event.

In June, Reuters reported that Coal India was investigating lithium blocks in Argentina with a US business to secure supply of the battery material as part of India’s efforts under the US-led Minerals Security Partnership.

India, one of the world’s leading greenhouse gas emitters, has been pursuing international agreements to acquire vital minerals in resource-rich countries like Australia, Argentina, and Chile.

According to Rao, India’s state-owned corporation Khanij Bidesh India Ltd (KABIL) is exploring leads in Australia for essential minerals, and the company has also received authorisation for “non-invasive” exploration in Argentina.

“KABIL has got five blocks and for three blocks, they have permission to do non-invasive exploration,” he told me.

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