Two lithium mines and a copper mine within Argentina have been targeted by India for potential purchase or long term leasing. A senior official from the Mining Ministry stated to media. That the commercial assessment of the mines has started and that a report on it is anticipated by the end of Feb.
You may remember that in Nov last year. The Centre dispatched a group of three geologist towards the country in Latin America “to investigate possible lithium reserves” and potential purchase options.
The group included one geologist each of the following organisations: Khanij Bidesh India Ltd. (KABIL), Mineral Exploration Corporation Ltd. (MECL), and also the (GSI) Geological Survey of India.
KABIL, a joint venture established with the cooperation with Hindustan Copper (HCL), (Nalco) National Aluminium Company, and MECL, intends to deliver a steady supply of important and strategic minerals with in the market place.
Officials from the ministry claim that KABIL will have the ownership (or lease rights. In the instance of an acquisition as well as equity infuse) of all 3 mines.
“Following an initial evaluation, KABIL showed interest in collaborating with a government organisation.” There within Dec to prospect the locations and explore the potential of developing operations for lithium mining in the future. At our end, commercial assessment of the same has started, the official said.
According to sources, the Argentine farm KABIL has signed non-binding Memorandums of Understanding with 3 government organisations to share information regarding potential lithium stretches of land.
Argentina is consider to have some of the world’s largest mineral reserves. The north west of country, in addition to Chile & Bolivia comprise the so-called “Lithium Triangle,” is presently the 4th largest producer.
The country has the 3rd largest lithium deposit in the globe. Which is a key component in rechargeable batteries (use for EVs) & energy storage devices as well as other batteries and other devices.
The world’s largest manufacturer of lithium is Australia.
In regards to the Lithium Triangle, the United States and China are significant miners of the mineral.
Lithium Mining Process
Lithium is discovered in cedemine rock formations and also in brine, or salar as it’s termed in Latin America.
The liquid form is another option. Lithium is usually extracted through salt flats in South America through injecting brine onto ponds. And then refining the lithium salts that form once the water evaporates.
It takes time and money to set it up. But the manufacturing is cheaper then hard-rock extraction in Australia, as per experts in the know.
Argentina has already seen significant investment in the industry from overseas players, notably companies with Chinese backing.